Camden Property Trust’s (CPT) “Sector Perform” Rating Reaffirmed at Scotiabank

Scotiabank reaffirmed their sector perform rating on shares of Camden Property Trust (NYSE:CPT) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a $133.00 price target on the real estate investment trust’s stock, down from their prior price target of $136.00.

CPT has been the subject of several other research reports. Barclays cut their price target on Camden Property Trust from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Tuesday. Morgan Stanley dropped their price target on Camden Property Trust from $130.00 to $124.00 and set an “equal weight” rating for the company in a research report on Wednesday. Truist Financial set a $131.00 price objective on Camden Property Trust and gave the company a “buy” rating in a report on Monday, May 19th. Piper Sandler decreased their price objective 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, Mizuho decreased their price target on Camden Property Trust from $130.00 to $122.00 and set an “outperform” rating on the stock in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $124.94.

Camden Property Trust Trading Down 0.9%

NYSE CPT opened at $106.07 on Thursday. The firm has a market capitalization of $11.33 billion, a P/E ratio of 74.17, a PEG ratio of 3.63 and a beta of 0.78. The business has a fifty day simple moving average of $112.77 and a 200 day simple moving average of $115.61. Camden Property Trust has a 12 month low of $102.35 and a 12 month high of $127.69. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.82.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.01. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%. The firm had revenue of $396.51 million during the quarter, compared to analyst estimates of $393.24 million. During the same period last year, the firm posted $1.71 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were given a dividend of $1.05 per share. The ex-dividend date was Monday, June 30th. This represents a $4.20 annualized dividend and a dividend yield of 4.0%. Camden Property Trust’s payout ratio is currently 293.71%.

Institutional Investors Weigh In On Camden Property Trust

Hedge funds have recently added to or reduced their stakes in the stock. Bellwether Advisors LLC purchased a new position in shares of Camden Property Trust in the fourth quarter worth $31,000. Loomis Sayles & Co. L P purchased a new position in shares of Camden Property Trust in the second quarter worth $32,000. IFP Advisors Inc raised its stake in shares of Camden Property Trust by 45.7% in the second 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 during the last quarter. Cape Investment Advisory Inc. purchased a new position in shares of Camden Property Trust in the first quarter worth $37,000. Finally, Tsfg LLC purchased a new stake in Camden Property Trust during the first quarter valued at $40,000. 97.22% of the stock is 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.