Camden Property Trust (CPT) to Issue $0.75 Quarterly Dividend
Camden Property Trust (NYSE:CPT) declared a quarterly dividend on Friday, September 8th, RTT News reports. Shareholders of record on Friday, September 29th will be paid a dividend of 0.75 per share by the real estate investment trust on Tuesday, October 17th. This represents a $3.00 annualized dividend and a yield of 3.13%.
Camden Property Trust has raised its dividend payment by an average of 6.4% per year over the last three years and has increased its dividend every year for the last 6 years. Camden Property Trust has a payout ratio of 65.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Camden Property Trust to earn $1.86 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 161.3%.
Shares of Camden Property Trust (NYSE CPT) traded up 1.50% on Friday, reaching $95.70. 1,046,020 shares of the company’s stock traded hands. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 21.41 and a beta of 0.38. The firm’s 50-day moving average is $89.65 and its 200-day moving average is $84.99. Camden Property Trust has a 52-week low of $75.36 and a 52-week high of $95.86.
Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.02. The firm had revenue of $222.40 million during the quarter, compared to analyst estimates of $222.44 million. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business earned $1.15 EPS. Analysts anticipate that Camden Property Trust will post $1.73 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on the stock. Sandler O’Neill upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and raised their target price for the stock from $93.00 to $105.00 in a report on Tuesday. Royal Bank Of Canada raised their target price on shares of Camden Property Trust from $91.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Stifel Nicolaus assumed coverage on shares of Camden Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $99.00 target price for the company. Deutsche Bank AG raised their target price on shares of Camden Property Trust from $84.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Finally, BMO Capital Markets upgraded shares of Camden Property Trust from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $89.00 in a report on Thursday, May 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $90.00.
In other Camden Property Trust news, EVP Alexander J. Jessett sold 11,788 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $89.81, for a total transaction of $1,058,680.28. Following the transaction, the executive vice president now owns 56,783 shares of the company’s stock, valued at approximately $5,099,681.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William W. Sengelmann sold 5,085 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total transaction of $458,412.75. Following the transaction, the executive vice president now directly owns 71,836 shares in the company, valued at approximately $6,476,015.40. The disclosure for this sale can be found here. Insiders have sold a total of 120,811 shares of company stock worth $10,812,185 in the last three months. Insiders own 4.70% of the company’s stock.
Camden Property Trust Company Profile
Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. As of December 31, 2016, the Company owned interests in, operated, or were developing 159 multifamily properties, which consisted of 55,366 apartment homes across the United States.
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