Camden Property Trust (NYSE:CPT) Given New $129.00 Price Target at JPMorgan Chase & Co.

Camden Property Trust (NYSE:CPT) had its target price upped by JPMorgan Chase & Co. from $127.00 to $129.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on the company. Jefferies Financial Group upgraded Camden Property Trust from a “hold” rating to a “buy” rating and boosted their price target for the company from $117.00 to $139.00 in a report on Monday, March 10th. Wall Street Zen lowered Camden Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Citigroup upgraded Camden Property Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $125.00 to $138.00 in a report on Friday, March 28th. Barclays upped their target price on Camden Property Trust from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, 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 report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Camden Property Trust currently has an average rating of “Hold” and an average target price of $129.39.

Camden Property Trust Trading Down 0.2%

CPT opened at $115.94 on Tuesday. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 106.37, a P/E/G ratio of 3.52 and a beta of 0.78. The stock’s 50 day moving average price is $115.47 and its 200-day moving average price is $116.69. Camden Property Trust has a one year low of $102.35 and a one year high of $127.69. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.19 and a current ratio of 0.19.

Camden Property Trust (NYSE:CPT) last released its earnings results 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. The firm had revenue of $390.57 million for the quarter, compared to analysts’ expectations of $388.47 million. Camden Property Trust had a return on equity of 2.47% and a net margin of 7.62%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 earnings per share. On average, equities analysts forecast that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.20 annualized dividend and a dividend yield of 3.62%. Camden Property Trust’s dividend payout ratio is presently 385.32%.

Insider Activity at Camden Property Trust

In other Camden Property Trust news, Director Steven A. Webster sold 1,200 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the sale, the director now directly owns 117,374 shares of the company’s stock, valued at approximately $13,939,336.24. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard J. Campo sold 5,572 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total value of $665,854.00. Following the sale, the chief executive officer now directly owns 289,720 shares in the company, valued at $34,621,540. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Camden Property Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPT. Allspring Global Investments Holdings LLC grew its position in Camden Property Trust by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 16,528 shares of the real estate investment trust’s stock worth $1,895,000 after purchasing an additional 321 shares during the period. Principal Securities Inc. grew its position in Camden Property Trust by 12.2% during the 4th quarter. Principal Securities Inc. now owns 4,253 shares of the real estate investment trust’s stock worth $494,000 after purchasing an additional 462 shares during the period. Principal Financial Group Inc. grew its position in Camden Property Trust by 11.1% during the 4th quarter. Principal Financial Group Inc. now owns 598,815 shares of the real estate investment trust’s stock worth $69,485,000 after purchasing an additional 59,939 shares during the period. CIBC Asset Management Inc grew its position in Camden Property Trust by 4.7% during the 4th quarter. CIBC Asset Management Inc now owns 16,924 shares of the real estate investment trust’s stock worth $1,964,000 after purchasing an additional 756 shares during the period. Finally, D.A. Davidson & CO. acquired a new stake in shares of Camden Property Trust during the 4th quarter valued at about $269,000. 97.22% of the stock is owned by institutional investors and hedge funds.

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.