Camden Property Trust (NYSE:CPT) Given New $122.00 Price Target at Royal Bank of Canada

Camden Property Trust (NYSE:CPT) had its target price boosted by Royal Bank of Canada from $114.00 to $122.00 in a research report released on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

Several other research firms have also weighed in on CPT. Truist Financial raised their target price on Camden Property Trust from $114.00 to $122.00 and gave the company a buy rating in a report on Monday, June 24th. JPMorgan Chase & Co. upped their target price on Camden Property Trust from $104.00 to $112.00 and gave the stock a neutral rating in a research report on Monday, June 17th. Mizuho dropped their price target on shares of Camden Property Trust from $111.00 to $108.00 and set a buy rating on the stock in a research report on Thursday, May 30th. UBS Group upped their price objective on shares of Camden Property Trust from $109.00 to $117.00 and gave the stock a neutral rating in a report on Thursday, July 18th. Finally, Morgan Stanley lifted their target price on shares of Camden Property Trust from $98.00 to $105.50 and gave the stock an equal weight rating in a report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Camden Property Trust presently has a consensus rating of Hold and an average price target of $109.58.

Camden Property Trust Stock Up 0.8 %

CPT opened at $118.79 on Monday. The company has a market capitalization of $12.66 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 4.50 and a beta of 0.88. The business has a 50-day moving average of $110.19 and a 200-day moving average of $102.66. Camden Property Trust has a fifty-two week low of $82.81 and a fifty-two week high of $121.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.43 and a quick ratio of 0.43.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The business had revenue of $387.15 million during the quarter, compared to analyst estimates of $384.76 million. Camden Property Trust had a net margin of 25.64% and a return on equity of 7.95%. During the same quarter last year, the firm earned $1.70 earnings per share. Equities research analysts forecast that Camden Property Trust will post 6.73 EPS for the current fiscal year.

Camden Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.47%. 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

A number of hedge funds and other institutional investors have recently made changes to their positions in CPT. Lindbrook Capital LLC raised its position in Camden Property Trust by 90.4% in the first quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 132 shares in the last quarter. Kings Path Partners LLC acquired a new position in shares of Camden Property Trust in the 2nd quarter worth approximately $33,000. Federated Hermes Inc. bought a new position in shares of Camden Property Trust during the 2nd quarter worth approximately $33,000. Family Firm Inc. acquired a new stake in Camden Property Trust in the 2nd quarter valued at $39,000. Finally, Versant Capital Management Inc grew its position in Camden Property Trust by 2,187.5% in the second quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 350 shares during the period. 97.22% of the stock is owned by institutional investors.

Camden Property Trust Company Profile

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 58,634 apartment homes across the United States.