Camden Property Trust Announces Quarterly Dividend of $1.03 (NYSE:CPT)

Camden Property Trust (NYSE:CPT) announced a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 1.03 per share by the real estate investment trust on Thursday, October 17th. This represents a $4.12 annualized dividend and a yield of 3.30%. The ex-dividend date is Monday, September 30th.

Camden Property Trust has raised its dividend payment by an average of 6.4% per year over the last three years. Camden Property Trust has a payout ratio of 272.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Camden Property Trust to earn $6.94 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 59.4%.

Camden Property Trust Stock Performance

Camden Property Trust stock traded up $0.69 during trading hours on Wednesday, hitting $124.68. 189,502 shares of the stock traded hands, compared to its average volume of 993,237. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.37 and a quick ratio of 0.37. The firm’s 50 day moving average price is $118.35 and its 200-day moving average price is $108.16. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 4.60 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 quarterly 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 firm had revenue of $387.15 million for the quarter, compared to analysts’ expectations of $384.76 million. Camden Property Trust had a net margin of 25.64% and a return on equity of 7.98%. During the same quarter in the previous year, the firm posted $1.70 EPS. As a group, equities analysts expect that Camden Property Trust will post 6.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CPT has been the topic of a number of recent research reports. Scotiabank upped their target price on Camden Property Trust from $125.00 to $132.00 and gave the stock a “sector perform” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their target price on Camden Property Trust from $90.00 to $115.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. BNP Paribas initiated coverage on Camden Property Trust in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $129.00 target price on the stock. Royal Bank of Canada downgraded Camden Property Trust from an “outperform” rating to a “sector perform” rating and set a $122.00 target price on the stock. in a research note on Monday, September 9th. Finally, Mizuho lowered their target price on Camden Property Trust from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $121.69.

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 58,250 apartment homes across the United States.