Camden Property Trust (NYSE:CPT) Receives $129.28 Consensus Target Price from Brokerages

Key Points

• Camden Property Trust has received an average recommendation of "Hold" from 18 analysts, with 10 holding, 7 buying, and 1 selling the stock, giving it a target price of $129.28.
• The company announced a quarterly dividend of $1.05 per share, leading to an annualized yield of 3.70%, despite a high dividend payout ratio of 385.32%.
• Recent insider activity includes sales by both the CEO and a director, who decreased their ownership in the company by 1.89% and 1.01%, respectively.

Camden Property Trust (NYSE:CPT - Get Free Report) has been assigned an average rating of "Hold" from the eighteen research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $129.28.

A number of analysts recently issued reports on the stock. Truist Financial set a $131.00 target price on shares of Camden Property Trust and gave the stock a "buy" rating in a research report on Monday, May 19th. UBS Group dropped their target price on shares of Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. JPMorgan Chase & Co. increased their target price on shares of Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a research report on Tuesday, June 17th. Barclays set a $137.00 target price on shares of Camden Property Trust and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of Camden Property Trust from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th.

Insider Buying and Selling at Camden Property Trust

In related news, Director Steven A. Webster sold 1,200 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the transaction, the director directly owned 117,374 shares in the company, valued at $13,939,336.24. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard J. Campo sold 5,572 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total value of $665,854.00. Following the transaction, the chief executive officer owned 289,720 shares in the company, valued at $34,621,540. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Camden Property Trust

Several large investors have recently added to or reduced their stakes in CPT. Commonwealth Equity Services LLC lifted its stake in Camden Property Trust by 6.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,350 shares of the real estate investment trust's stock worth $853,000 after purchasing an additional 461 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Camden Property Trust by 13.9% during the fourth quarter. LPL Financial LLC now owns 32,573 shares of the real estate investment trust's stock valued at $3,780,000 after acquiring an additional 3,974 shares during the period. Korea Investment CORP boosted its holdings in shares of Camden Property Trust by 99.9% during the fourth quarter. Korea Investment CORP now owns 151,799 shares of the real estate investment trust's stock valued at $17,615,000 after acquiring an additional 75,843 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Camden Property Trust by 6.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 244,789 shares of the real estate investment trust's stock worth $28,657,000 after acquiring an additional 13,784 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co acquired a new stake in shares of Camden Property Trust in the 4th quarter worth about $1,253,000. 97.22% of the stock is currently owned by institutional investors.

Camden Property Trust Trading Down 2.2%

Shares of NYSE CPT traded down $2.55 on Friday, reaching $112.17. 1,162,370 shares of the company traded hands, compared to its average volume of 713,394. Camden Property Trust has a fifty-two week low of $102.35 and a fifty-two week high of $127.69. The company has a 50 day moving average of $114.92 and a 200 day moving average of $116.06. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $11.98 billion, a PE ratio of 102.91, a P/E/G ratio of 3.80 and a beta of 0.77.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.68 by $0.04. Camden Property Trust had a net margin of 7.62% and a return on equity of 2.47%. The company had revenue of $390.57 million during the quarter, compared to the consensus estimate of $388.47 million. During the same quarter in the prior year, the company posted $1.70 EPS. The company's quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Monday, June 30th. Camden Property Trust's dividend payout ratio (DPR) is currently 385.32%.

Camden Property Trust Company Profile

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.