Camden Property Trust (NYSE:CPT) Hits New 52-Week High at $135.67

Camden Property Trust (NYSE:CPT) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $135.67 and last traded at $135.44, with a volume of 820281 shares. The stock had previously closed at $132.61.

Several analysts recently issued reports on CPT shares. Deutsche Bank Aktiengesellschaft raised their target price on Camden Property Trust from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, May 26th. Royal Bank of Canada started coverage on Camden Property Trust in a research report on Tuesday, March 30th. They set an “outperform” rating and a $119.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Camden Property Trust from $108.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, May 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $125.00 price objective on shares of Camden Property Trust in a research report on Wednesday, May 26th. Finally, Piper Sandler lifted their price objective on Camden Property Trust from $116.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, April 23rd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $123.29.

The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average of $123.78. The company has a market capitalization of $13.23 billion, a PE ratio of 118.40, a P/E/G ratio of 6.42 and a beta of 0.71.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.92). Camden Property Trust had a return on equity of 3.16% and a net margin of 10.71%. On average, equities analysts predict that Camden Property Trust will post 5.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 16th. Investors of record on Wednesday, June 30th will be issued a $0.83 dividend. The ex-dividend date is Tuesday, June 29th. This represents a $3.32 dividend on an annualized basis and a yield of 2.45%. Camden Property Trust’s payout ratio is currently 67.76%.

In other Camden Property Trust news, Vice Chairman D Keith Oden sold 50,616 shares of the business’s stock in a transaction on Wednesday, June 9th. The shares were sold at an average price of $133.28, for a total transaction of $6,746,100.48. Following the completion of the sale, the insider now directly owns 285,152 shares in the company, valued at approximately $38,005,058.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Scott S. Ingraham sold 8,518 shares of the business’s stock in a transaction on Thursday, May 6th. The shares were sold at an average price of $120.44, for a total transaction of $1,025,907.92. Following the sale, the director now owns 72,538 shares of the company’s stock, valued at $8,736,476.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,879 shares of company stock valued at $8,645,076. 2.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CPT. Starwood Capital Group Management L.L.C. purchased a new stake in Camden Property Trust during the 4th quarter valued at $129,811,000. Norges Bank purchased a new stake in Camden Property Trust during the 4th quarter valued at $90,104,000. Lasalle Investment Management Securities LLC raised its stake in Camden Property Trust by 10,029.2% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 793,113 shares of the real estate investment trust’s stock valued at $87,171,000 after buying an additional 785,283 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Camden Property Trust by 132.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,166,007 shares of the real estate investment trust’s stock valued at $128,156,000 after buying an additional 663,363 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Camden Property Trust by 28.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,825,817 shares of the real estate investment trust’s stock valued at $310,586,000 after buying an additional 629,415 shares during the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.

Camden Property Trust Company Profile (NYSE:CPT)

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.

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