Citigroup Cuts Camden Property Trust (NYSE:CPT) Price Target to $130.00

Camden Property Trust (NYSE:CPT) had its target price lowered by Citigroup from $138.00 to $130.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently commented on CPT. Evercore ISI lowered their price objective on shares of Camden Property Trust from $117.00 to $114.00 and set an “in-line” rating on the stock in a research note on Tuesday, August 12th. Piper Sandler lowered their price objective on shares of Camden Property Trust from $130.00 to $117.00 and set a “neutral” rating on the stock in a research note on Monday, August 4th. Scotiabank reissued a “sector perform” rating and issued a $133.00 price objective (down from $136.00) on shares of Camden Property Trust in a research note on Thursday. Barclays decreased their price target on shares of Camden Property Trust from $137.00 to $128.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 12th. Finally, Mizuho decreased their price target on shares of 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 assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $124.94.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $106.82 on Thursday. The stock has a market cap 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’s 50-day moving average price is $112.59 and its 200 day moving average price is $115.60. 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 issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.01. The firm had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $393.24 million. Camden Property Trust had a net margin of 9.99% and a return on equity of 3.30%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.71 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, June 30th. Camden Property Trust’s dividend payout ratio is presently 293.71%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Camden Property Trust by 16.8% during the 1st quarter. Smartleaf Asset Management LLC now owns 620 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 89 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Camden Property Trust by 6.5% during the 4th quarter. Federated Hermes Inc. now owns 1,466 shares of the real estate investment trust’s stock worth $170,000 after acquiring an additional 90 shares during the period. Country Club Bank lifted its holdings in shares of Camden Property Trust by 0.4% during the 1st quarter. Country Club Bank now owns 26,200 shares of the real estate investment trust’s stock worth $3,204,000 after acquiring an additional 92 shares during the period. Amalgamated Bank lifted its holdings in shares of Camden Property Trust by 0.5% during the 1st quarter. Amalgamated Bank now owns 20,558 shares of the real estate investment trust’s stock worth $2,514,000 after acquiring an additional 93 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Camden Property Trust by 0.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,117 shares of the real estate investment trust’s stock worth $2,102,000 after acquiring an additional 98 shares during the period. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

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.