Royal Bank of Canada Reaffirms Sector Perform Rating for Camden Property Trust (NYSE:CPT)

Royal Bank of Canada reaffirmed their sector perform rating on shares of Camden Property Trust (NYSE:CPT) in a report issued on Wednesday morning,Benzinga reports. They currently have a $121.00 price target on the real estate investment trust’s stock.

Several other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $129.00 to $128.00 in a research note on Tuesday, December 17th. Barclays began coverage on shares of Camden Property Trust in a research report on Tuesday, December 17th. They set an “overweight” rating and a $138.00 target price on the stock. StockNews.com lowered shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Stifel Nicolaus downgraded Camden Property Trust from a “buy” rating to a “hold” rating and lifted their price objective for the company from $120.00 to $121.00 in a report on Wednesday, November 13th. Finally, Jefferies Financial Group initiated coverage on Camden Property Trust in a report on Friday, October 11th. They issued a “hold” rating and a $123.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.42.

Camden Property Trust Trading Down 1.6 %

Shares of CPT stock opened at $110.99 on Wednesday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.72. Camden Property Trust has a 1 year low of $90.50 and a 1 year high of $127.69. The firm’s fifty day simple moving average is $117.72 and its 200 day simple moving average is $118.67. The firm has a market capitalization of $11.84 billion, a P/E ratio of 35.12, a price-to-earnings-growth ratio of 4.09 and a beta of 0.94.

Camden Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Wednesday, December 18th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Wednesday, December 18th. Camden Property Trust’s dividend payout ratio is 130.38%.

Insider Transactions at Camden Property Trust

In other news, CEO Richard J. Campo sold 1,043 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $114,792.58. Following the completion of the transaction, the chief executive officer now directly owns 299,092 shares in the company, valued at $32,918,065.52. This represents a 0.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Heather J. Brunner sold 264 shares of Camden Property Trust stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $29,055.84. Following the completion of the sale, the director now directly owns 10,273 shares in the company, valued at approximately $1,130,646.38. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,413 shares of company stock valued at $2,895,718 over the last three months. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CPT. SMART Wealth LLC acquired a new stake in shares of Camden Property Trust in the 3rd quarter valued at approximately $829,000. Nordea Investment Management AB lifted its stake in Camden Property Trust by 15.0% in the fourth quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock valued at $11,339,000 after acquiring an additional 12,805 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in Camden Property Trust in the third quarter valued at $1,660,000. Franklin Resources Inc. increased its stake in shares of Camden Property Trust by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock worth $23,174,000 after purchasing an additional 5,985 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Camden Property Trust by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock valued at $66,563,000 after purchasing an additional 51,097 shares during the period. 97.22% of the stock is currently 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 58,250 apartment homes across the United States.