Camden Property Trust's (CPT) Sector Perform Rating Reiterated at Scotiabank

Key Points

• Scotiabank has reaffirmed a "sector perform" rating for Camden Property Trust (NYSE:CPT) with a price target of $133.00, indicating a potential upside of 26.14% from its previous close.
• Morgan Stanley and Mizuho have reduced their price targets for Camden Property Trust to $124.00 and $122.00, respectively, with varying ratings.
• Camden Property Trust reported earnings of $1.70 per share for the last quarter, slightly exceeding analysts' expectations, alongside revenue growth of 2.4% year-over-year.

Scotiabank reiterated their sector perform rating on shares of Camden Property Trust (NYSE:CPT - Free Report) in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a $133.00 target price on the real estate investment trust's stock, down from their prior target price of $136.00.

A number of other research analysts have also weighed in on the company. Morgan Stanley dropped their price objective on Camden Property Trust from $130.00 to $124.00 and set an "equal weight" rating on the stock in a report on Wednesday. Mizuho lowered their target price on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Wall Street Zen raised Camden Property Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Piper Sandler cut their price target on Camden Property Trust from $130.00 to $117.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Finally, Evercore ISI lowered their target price on Camden Property Trust from $117.00 to $114.00 and set an "in-line" rating on the stock in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $124.94.

Camden Property Trust Trading Up 0.8%

Shares of NYSE CPT traded up $0.80 during mid-day trading on Thursday, reaching $106.82. 789,492 shares of the company's stock were exchanged, compared to its average volume of 982,697. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of 74.70, a PEG ratio of 3.63 and a beta of 0.78. Camden Property Trust has a 52-week low of $102.35 and a 52-week high of $127.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.18 and a current ratio of 0.18. The company's 50-day moving average is $112.59 and its 200-day moving average is $115.62.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.01. The firm had revenue of $396.51 million during the quarter, compared to analysts' expectations of $393.24 million. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.71 earnings per share. Analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were paid a $1.05 dividend. The ex-dividend date was Monday, June 30th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.9%. Camden Property Trust's payout ratio is presently 293.71%.

Hedge Funds Weigh In On Camden Property Trust

A number of institutional investors have recently made changes to their positions in the business. Bellwether Advisors LLC bought a new stake in shares of Camden Property Trust in the 4th quarter valued at approximately $31,000. Loomis Sayles & Co. L P bought a new stake in shares of Camden Property Trust during the 2nd quarter valued at $32,000. Cape Investment Advisory Inc. bought a new stake in shares of Camden Property Trust in the 1st quarter valued at $37,000. MUFG Securities EMEA plc bought a new position in Camden Property Trust during the 2nd quarter worth about $35,000. Finally, IFP Advisors Inc increased its holdings in Camden Property Trust by 45.7% during the 2nd quarter. IFP Advisors Inc now owns 322 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 101 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors.

About Camden Property Trust

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.