Camden Property Trust (NYSE:CPT) Stock Gets Price Target Trim from Morgan Stanley

Camden Property Trust (NYSE:CPT) had its price objective reduced by Morgan Stanley from $118.00 to $107.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other research firms have also commented on CPT. UBS Group boosted their price target on shares of Camden Property Trust from $101.00 to $107.00 and gave the company a “neutral” rating in a research report on Tuesday. Piper Sandler lowered their price objective on shares of Camden Property Trust from $119.00 to $102.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Stifel Nicolaus set a $123.25 target price on shares of Camden Property Trust in a research note on Friday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Camden Property Trust from $113.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Finally, Truist Financial dropped their price objective on shares of Camden Property Trust from $123.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, September 25th. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $108.73.

Camden Property Trust Stock Up 0.8%

CPT opened at $99.19 on Wednesday. Camden Property Trust has a twelve month low of $95.30 and a twelve month high of $119.81. The firm has a market cap of $9.93 billion, a P/E ratio of 9.24, a price-to-earnings-growth ratio of 10.48 and a beta of 0.75. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.18 and a current ratio of 1.82. The business has a 50 day moving average price of $99.90 and a 200 day moving average price of $105.62.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.02. Camden Property Trust had a return on equity of 26.22% and a net margin of 71.94%. The business had revenue of $381.06 million during the quarter, compared to analysts’ expectations of $384.88 million. During the same quarter in the previous year, the firm earned $1.70 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. Research analysts forecast that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were paid a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Wednesday, September 30th. Camden Property Trust’s dividend payout ratio is currently 39.52%.

Hedge Funds Weigh In On Camden Property Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in shares of Camden Property Trust by 80,855.8% during the 3rd quarter. IFP Advisors Inc now owns 62,336 shares of the real estate investment trust’s stock valued at $6,030,000 after acquiring an additional 62,259 shares in the last quarter. Sterling Capital Management LLC grew its position in Camden Property Trust by 907.5% during the 3rd quarter. Sterling Capital Management LLC now owns 29,862 shares of the real estate investment trust’s stock worth $2,889,000 after acquiring an additional 26,898 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Camden Property Trust by 908.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 51,758 shares of the real estate investment trust’s stock worth $5,007,000 after purchasing an additional 46,626 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Camden Property Trust by 3,804.2% in the 2nd quarter. Squarepoint Ops LLC now owns 107,327 shares of the real estate investment trust’s stock worth $12,288,000 after purchasing an additional 104,578 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in Camden Property Trust by 4,821.7% in the third quarter. Evergreen Capital Management LLC now owns 171,914 shares of the real estate investment trust’s stock valued at $16,629,000 after purchasing an additional 168,421 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

About Camden Property Trust

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas. Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.