Evercore ISI Boosts Camden Property Trust (NYSE:CPT) Price Target to $116.00

Camden Property Trust (NYSE:CPT) had its price objective increased by Evercore ISI from $115.00 to $116.00 in a report released on Monday, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

CPT has been the topic of several other reports. Royal Bank of Canada lowered Camden Property Trust from an outperform rating to a sector perform rating and set a $122.00 target price on the stock. in a report on Monday. Wedbush boosted their price target on Camden Property Trust from $118.00 to $131.00 and gave the company an outperform rating in a report on Monday, August 5th. Wells Fargo & Company upgraded Camden Property Trust from an underweight rating to an equal weight rating and boosted their price target for the company from $104.00 to $127.00 in a report on Monday, August 26th. The Goldman Sachs Group assumed coverage on Camden Property Trust in a report on Wednesday, September 4th. They issued a neutral rating and a $139.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Camden Property Trust from $104.00 to $112.00 and gave the company a neutral rating in a report on Monday, June 17th. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $120.25.

Camden Property Trust Stock Performance

CPT stock opened at $122.53 on Monday. The business’s 50-day moving average price is $116.72 and its two-hundred day moving average price is $107.10. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.72. The firm has a market cap of $13.05 billion, a PE ratio of 30.03, a P/E/G ratio of 4.59 and a beta of 0.90. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $127.23.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($1.27). The business had revenue of $387.15 million for the quarter, compared to the consensus estimate of $384.76 million. Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. During the same quarter in the prior year, the firm posted $1.70 earnings per share. As a group, research analysts forecast that Camden Property Trust will post 6.77 earnings per share for the current year.

Camden Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Friday, June 28th. Camden Property Trust’s dividend payout ratio (DPR) is presently 100.98%.

Hedge Funds Weigh In On Camden Property Trust

Institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new position in shares of Camden Property Trust in the second quarter valued at approximately $1,257,000. Coronation Fund Managers Ltd. grew its position in shares of Camden Property Trust by 52.8% in the second quarter. Coronation Fund Managers Ltd. now owns 93,100 shares of the real estate investment trust’s stock valued at $10,158,000 after purchasing an additional 32,182 shares during the last quarter. Graham Capital Wealth Management LLC acquired a new position in shares of Camden Property Trust in the second quarter valued at approximately $2,541,000. Truist Financial Corp grew its position in shares of Camden Property Trust by 3.4% in the second quarter. Truist Financial Corp now owns 18,105 shares of the real estate investment trust’s stock valued at $1,975,000 after purchasing an additional 599 shares during the last quarter. Finally, Waterfall Asset Management LLC acquired a new position in shares of Camden Property Trust in the second quarter valued at approximately $818,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

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.