Camden Property Trust (NYSE:CPT) Given New $129.00 Price Target at JPMorgan Chase & Co.

Camden Property Trust (NYSE:CPT) had its target price boosted by JPMorgan Chase & Co. from $127.00 to $129.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on CPT. Truist Financial set a $131.00 target price on Camden Property Trust and gave the company a “buy” rating in a research report on Monday, May 19th. Citigroup upgraded Camden Property Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $125.00 to $138.00 in a report on Friday, March 28th. Wall Street Zen cut shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Scotiabank reduced their target price on shares of Camden Property Trust from $144.00 to $136.00 and set a “sector perform” rating for the company in a research report on Friday, June 13th. Finally, Jefferies Financial Group raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and raised their price target for the stock from $117.00 to $139.00 in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Camden Property Trust has an average rating of “Hold” and a consensus price target of $129.39.

Camden Property Trust Price Performance

NYSE:CPT opened at $115.94 on Tuesday. Camden Property Trust has a 52 week low of $102.35 and a 52 week high of $127.69. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $12.39 billion, a PE ratio of 106.37, a price-to-earnings-growth ratio of 3.52 and a beta of 0.78. The stock’s 50-day moving average price is $115.47 and its 200-day moving average price is $116.69.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. Camden Property Trust had a return on equity of 2.47% and a net margin of 7.62%. The firm had revenue of $390.57 million for the quarter, compared to analysts’ expectations of $388.47 million. During the same period last year, the firm earned $1.70 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.05 per share. The ex-dividend date is Monday, June 30th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.62%. Camden Property Trust’s dividend payout ratio is currently 385.32%.

Insider Activity at Camden Property Trust

In other Camden Property Trust news, CEO Richard J. Campo sold 5,572 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total transaction of $665,854.00. Following the completion of the transaction, the chief executive officer now owns 289,720 shares of the company’s stock, valued at $34,621,540. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven A. Webster sold 1,200 shares of Camden Property Trust stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $118.76, for a total transaction of $142,512.00. Following the sale, the director now owns 117,374 shares of the company’s stock, valued at approximately $13,939,336.24. This represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Camden Property Trust

Hedge funds have recently made changes to their positions in the stock. BROOKFIELD Corp ON purchased a new stake in Camden Property Trust in the first quarter valued at approximately $19,087,000. Nicola Wealth Management LTD. acquired a new stake in shares of Camden Property Trust in the first quarter valued at $1,773,000. Inspire Investing LLC grew its stake in shares of Camden Property Trust by 13.7% in the first quarter. Inspire Investing LLC now owns 2,556 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 308 shares in the last quarter. Strs Ohio acquired a new stake in shares of Camden Property Trust in the first quarter valued at $16,742,000. Finally, Turn8 Private Wealth Inc. grew its stake in shares of Camden Property Trust by 3.5% in the first quarter. Turn8 Private Wealth Inc. now owns 24,125 shares of the real estate investment trust’s stock valued at $2,950,000 after buying an additional 817 shares in the last quarter. Hedge funds and other institutional investors 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.