Camden Property Trust (NYSE:CPT) to Issue Quarterly Dividend of $1.05

Camden Property Trust (NYSE:CPT) declared a quarterly dividend on Monday, June 16th, RTT News reports. Stockholders of record on Monday, June 30th will be paid a dividend of 1.05 per share by the real estate investment trust on Thursday, July 17th. This represents a $4.20 annualized dividend and a dividend yield of 3.62%.

Camden Property Trust has a payout ratio of 271.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Camden Property Trust to earn $7.07 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 59.4%.

Camden Property Trust Trading Down 0.0%

NYSE CPT traded down $0.00 on Monday, hitting $116.12. The company’s stock had a trading volume of 470,244 shares, compared to its average volume of 987,514. The company’s 50-day moving average is $115.20 and its 200 day moving average is $116.77. The firm has a market cap of $12.41 billion, a PE ratio of 77.41, a PEG ratio of 4.41 and a beta of 0.78. Camden Property Trust has a 1-year low of $102.35 and a 1-year high of $127.69. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. Camden Property Trust had a return on equity of 3.35% and a net margin of 10.58%. The company had revenue of $390.57 million during the quarter, compared to analysts’ expectations of $388.47 million. During the same quarter in the prior year, the firm posted $1.70 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, analysts predict that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Insider Activity

In other Camden Property Trust news, Director Steven A. Webster sold 1,200 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $118.76, for a total value of $142,512.00. Following the sale, the director now directly owns 117,374 shares in the company, valued at $13,939,336.24. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard J. Campo sold 5,572 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total value of $665,854.00. Following the completion of the transaction, the chief executive officer now owns 289,720 shares in the company, valued at $34,621,540. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Trading of Camden Property Trust

A hedge fund recently raised its stake in Camden Property Trust stock. Focus Partners Wealth raised its stake in shares of Camden Property Trust (NYSE:CPT) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,573 shares of the real estate investment trust’s stock after buying an additional 175 shares during the quarter. Focus Partners Wealth’s holdings in Camden Property Trust were worth $926,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Wall Street Analyst Weigh In

CPT has been the subject of several recent analyst reports. Truist Financial set a $131.00 price objective on shares of Camden Property Trust and gave the stock a “buy” rating in a research report on Monday, May 19th. Barclays raised their target price on Camden Property Trust from $127.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Mizuho dropped 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. Scotiabank cut their price target on Camden Property Trust from $144.00 to $136.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, Wall Street Zen cut Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $129.33.

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.