Camden Property Trust (NYSE:CPT) Upgraded to “Hold” at Zelman & Associates

Zelman & Associates upgraded shares of Camden Property Trust (NYSE:CPT) from a sell rating to a hold rating in a report published on Monday, The Fly reports.

CPT has been the topic of a number of other reports. SunTrust Banks lifted their price objective on shares of Camden Property Trust to $108.00 and gave the company a buy rating in a research note on Thursday, June 13th. Citigroup lifted their price objective on shares of Camden Property Trust from $100.00 to $109.00 and gave the company a neutral rating in a research note on Tuesday, July 30th. DA Davidson lowered shares of Camden Property Trust from a buy rating to a neutral rating in a research note on Tuesday, July 23rd. Barclays restated a buy rating and issued a $108.00 price objective on shares of Camden Property Trust in a research note on Tuesday, April 16th. Finally, Zacks Investment Research lowered shares of Camden Property Trust from a buy rating to a hold rating in a research note on Tuesday, June 25th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $102.85.

Shares of NYSE:CPT opened at $105.07 on Monday. The company’s fifty day moving average price is $106.20 and its 200 day moving average price is $102.42. Camden Property Trust has a 12 month low of $83.67 and a 12 month high of $110.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $10.21 billion, a P/E ratio of 21.40, a P/E/G ratio of 3.03 and a beta of 0.45.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.84). Camden Property Trust had a return on equity of 4.48% and a net margin of 16.05%. The company had revenue of $255.76 million for the quarter, compared to analyst estimates of $252.76 million. During the same quarter in the prior year, the business earned $1.00 earnings per share. Camden Property Trust’s revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Camden Property Trust will post 5.08 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.05%. Camden Property Trust’s dividend payout ratio (DPR) is 67.09%.

In other news, Chairman Richard J. Campo sold 60,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $105.32, for a total transaction of $6,319,200.00. Following the transaction, the chairman now directly owns 273,948 shares in the company, valued at $28,852,203.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William F. Paulsen sold 1,979 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $102.19, for a total transaction of $202,234.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,658 shares of company stock worth $12,417,641. Company insiders own 3.40% of the company’s stock.

Several institutional investors have recently modified their holdings of CPT. Dimensional Fund Advisors LP lifted its position in shares of Camden Property Trust by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,380,599 shares of the real estate investment trust’s stock valued at $121,560,000 after buying an additional 5,954 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Camden Property Trust by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 1,280,615 shares of the real estate investment trust’s stock valued at $112,701,000 after buying an additional 98,418 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Camden Property Trust during the 1st quarter valued at $346,000. Virtu Financial LLC purchased a new position in shares of Camden Property Trust during the 1st quarter valued at $689,000. Finally, Louisiana State Employees Retirement System lifted its position in shares of Camden Property Trust by 4.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 25,900 shares of the real estate investment trust’s stock valued at $2,629,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 92.88% 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 161 properties containing 55,160 apartment homes across the United States.

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Analyst Recommendations for Camden Property Trust (NYSE:CPT)

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