Camden Property Trust (NYSE:CPT) Price Target Raised to $129.00

Camden Property Trust (NYSE:CPT – Free Report) has received an upgrade to its price target from Truist Financial, which increased it from $122.00 to $129.00. This information was shared in a research report that was published on Monday morning, as reported by Benzinga. Truist Financial continues to maintain a buy rating on the real estate investment trust's stock.

Other brokerage firms have also provided insights on Camden Property Trust. For example, Jefferies Financial Group recently upgraded the stock from a "hold" rating to a "buy" rating and increased their price target from $117.00 to $139.00 in their analysis published on the same day. Stifel Nicolaus raised their price target from $121.00 to $122.00 while maintaining a "hold" rating in a report released on February 7th. Conversely, Wells Fargo & Company lowered their price target for Camden Property Trust from $127.00 to $120.00, assigning an "equal weight" rating in their note on January 24th. Meanwhile, JPMorgan Chase & Co. reduced their rating from "neutral" to "underweight," adjusting their price target down to $128.00 from $129.00, as noted in a report on December 17th. Additionally, StockNews.com downgraded the stock from a "hold" rating to a "sell" rating in a publication dated Saturday. Overall, the stock has received mixed ratings, with two analysts issuing sell ratings, eleven maintaining hold ratings, and six giving buy ratings. According to MarketBeat.com, the average rating for the company sits at "Hold" with a consensus price target of $127.19.

Camden Property Trust Trading Activity

As for trading, Camden Property Trust shares opened at $121.85 on Monday. The company's market capitalization stands at approximately $13.01 billion. It has a price-to-earnings (P/E) ratio of 81.23 and a price-to-earnings growth (PEG) ratio of 4.41. Camden Property Trust's stock has fluctuated between a one-year low of $94.75 and a one-year high of $127.69. Currently, the company has a debt-to-equity ratio of 0.73, and its quick ratio and current ratio are 0.15 and 0.14, respectively. The stock also has a 50-day simple moving average of $116.39 and a 200-day simple moving average of $119.56.

Earnings Overview

Camden Property Trust recently released its quarterly earnings results on February 6th. The real estate investment trust reported earnings of $1.73 per share for the quarter, which exceeded analysts' expectations of $1.68 by a margin of $0.05. The company has a return on equity of 3.35% and a net margin of 10.58%. Analysts are predicting that Camden Property Trust will achieve earnings per share of 6.76 for the current fiscal year.

Dividend Announcement

In recent news, Camden Property Trust declared a quarterly dividend, scheduled for payment on April 17th. The dividend of $1.05 will be awarded to stockholders of record as of March 31st. This marks an increase from the previous quarterly dividend of $1.03. The ex-dividend date for this payment is also set for March 31st. This results in an annualized dividend total of $4.20, equating to a dividend yield of 3.45%. The current dividend payout ratio (DPR) is at 280.00%.

Insider Trading Activities

In insider news, Director Heather J. Brunner sold 264 shares of Camden Property Trust on January 8th for an average price of $110.06, amounting to a total sale value of approximately $29,055.84. Following this sale, Brunner holds a total of 10,273 shares in the company, valued at around $1,130,646.38. This sale reflects a 2.51% decrease in Brunner's ownership stake. Furthermore, CFO Alexander J. Jessett sold 13,067 shares on January 6th at an average price of $114.50, generating a total of $1,496,171.50. Post-transaction, Jessett owns 124,246 shares, valued at $14,226,167. This sale represents a 9.52% reduction in the CFO's stock ownership. Recent insider sales totaled 25,413 shares of Camden Property Trust, valued at $2,895,718, with company insiders owning 1.80% of the company’s shares.

Institutional Stake Changes

Institutional investors have also adjusted their positions in Camden Property Trust recently. Norges Bank acquired a new stake in the company during the fourth quarter, valued at around $187,606,000. Wellington Management Group LLP increased their holdings by 86.9% in the third quarter, bringing their ownership to 1,974,842 shares, worth approximately $243,952,000 after purchasing an additional 918,078 shares. Meanwhile, UBS Asset Management significantly increased its stake by 508.9% in the same quarter, now holding 946,417 shares valued at $116,911,000. Jacobs Levy Equity Management Inc. raised its holdings by 97.3% as well, owning 1,279,266 shares worth about $158,028,000. Invesco Ltd. increased its position by 17.3% in the fourth quarter, acquiring a total of 2,968,221 shares valued at $344,432,000. Currently, institutional investors and hedge funds hold approximately 97.22% of Camden Property Trust's stock.

Company Profile

Camden Property Trust, an S&P 500 Company, is primarily engaged in owning, managing, developing, redeveloping, acquiring, and constructing multifamily apartment communities. The company currently owns and operates 172 properties comprising 58,250 apartment homes across the United States.

Camden, Stocks, Investment