Camden Property Trust (CPT) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Camden Property Trust (NYSE:CPT) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $104.00 price target on the real estate investment trust’s stock.

According to Zacks, “Camden Property Trust is one of the largest publicly traded multifamily companies in the United States. Structured as a Real Estate Investment Trust (REIT), the company is engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. “

A number of other equities research analysts have also recently weighed in on the company. SunTrust Banks lifted their price objective on Camden Property Trust to $95.00 and gave the company an average rating in a research note on Tuesday, August 14th. They noted that the move was a valuation call. Citigroup lifted their price objective on Camden Property Trust from $91.00 to $95.00 and gave the company a neutral rating in a research note on Wednesday, August 8th. Royal Bank of Canada lifted their price objective on Camden Property Trust to $97.00 and gave the company an outperform rating in a research note on Tuesday, August 14th. Capital One Financial began coverage on Camden Property Trust in a research note on Monday, October 22nd. They issued an equal weight rating and a $96.00 price objective for the company. Finally, Deutsche Bank lifted their price objective on Camden Property Trust from $92.00 to $93.00 and gave the company a hold rating in a research note on Wednesday, September 5th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $94.31.

CPT stock traded down $0.73 during midday trading on Wednesday, hitting $89.53. 453,017 shares of the company’s stock were exchanged, compared to its average volume of 597,144. The company has a quick ratio of 0.54, a current ratio of 0.20 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 3.00 and a beta of 0.30. Camden Property Trust has a 1-year low of $78.19 and a 1-year high of $95.67.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, October 25th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.79). The business had revenue of $241.77 million for the quarter, compared to analyst estimates of $238.79 million. Camden Property Trust had a return on equity of 5.94% and a net margin of 21.81%. As a group, sell-side analysts anticipate that Camden Property Trust will post 4.76 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 17th. Investors of record on Friday, September 28th were issued a $0.77 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.08 dividend on an annualized basis and a yield of 3.44%. Camden Property Trust’s dividend payout ratio (DPR) is presently 67.99%.

In related news, Director William B. Mcguire sold 2,190 shares of Camden Property Trust stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $92.60, for a total value of $202,794.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alexander J. Jessett sold 9,674 shares of Camden Property Trust stock in a transaction on Friday, August 17th. The shares were sold at an average price of $94.61, for a total value of $915,257.14. Following the completion of the transaction, the chief financial officer now owns 58,012 shares of the company’s stock, valued at $5,488,515.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 247,921 shares of company stock valued at $23,290,722. 4.70% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its holdings in Camden Property Trust by 1,495.0% in the second quarter. Parallel Advisors LLC now owns 1,276 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 1,196 shares during the period. Redpoint Investment Management Pty Ltd purchased a new position in Camden Property Trust in the second quarter valued at $206,000. Robeco Institutional Asset Management B.V. boosted its holdings in Camden Property Trust by 109.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,424 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 1,268 shares during the period. First Mercantile Trust Co. purchased a new stake in Camden Property Trust during the 2nd quarter worth about $225,000. Finally, IFM Investors Pty Ltd purchased a new stake in Camden Property Trust during the 2nd quarter worth about $227,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.

Camden Property Trust Company Profile

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 158 properties containing 54,181 apartment homes across the United States.

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