Camden Property Trust (CPT) Raised to “Overweight” at Barclays

Barclays upgraded shares of Camden Property Trust (NYSE:CPT) from an equal weight rating to an overweight rating in a research report report published on Monday morning, Marketbeat reports. Barclays currently has $106.00 target price on the real estate investment trust’s stock, up from their previous target price of $87.00.

CPT has been the topic of a number of other reports. Zacks Investment Research raised shares of Camden Property Trust from a hold rating to a buy rating and set a $104.00 price target on the stock in a report on Wednesday, October 31st. Capital One Financial began coverage on shares of Camden Property Trust in a report on Monday, October 22nd. They issued an equal weight rating and a $96.00 price target on the stock. Robert W. Baird raised shares of Camden Property Trust from a neutral rating to an outperform rating and set a $100.00 price target on the stock in a report on Tuesday, November 20th. Mitsubishi UFJ Financial Group raised shares of Camden Property Trust from a neutral rating to an overweight rating and increased their price target for the stock from $92.00 to $96.00 in a report on Friday, January 4th. Finally, Wells Fargo & Co set a $99.00 price target on shares of Camden Property Trust and gave the stock a hold rating in a report on Tuesday, November 6th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $97.72.

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Shares of NYSE:CPT opened at $97.15 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.33 and a quick ratio of 0.20. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 2.95 and a beta of 0.57. Camden Property Trust has a twelve month low of $78.19 and a twelve month high of $98.93.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, January 31st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.81). The business had revenue of $244.92 million for the quarter, compared to the consensus estimate of $243.35 million. Camden Property Trust had a return on equity of 4.56% and a net margin of 16.36%. Analysts predict that Camden Property Trust will post 5.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. The ex-dividend date is Thursday, March 28th. This is an increase from Camden Property Trust’s previous quarterly dividend of $0.77. This represents a $3.20 annualized dividend and a dividend yield of 3.29%. Camden Property Trust’s dividend payout ratio (DPR) is 64.57%.

In other news, Director William F. Paulsen sold 11,344 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The shares were sold at an average price of $89.38, for a total value of $1,013,926.72. Following the transaction, the director now owns 2,890 shares in the company, valued at $258,308.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO H Malcolm Stewart sold 27,474 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $94.84, for a total transaction of $2,605,634.16. Following the completion of the transaction, the chief operating officer now owns 172,227 shares in the company, valued at approximately $16,334,008.68. The disclosure for this sale can be found here. Insiders sold 103,659 shares of company stock worth $9,758,784 in the last 90 days. Company insiders own 3.90% of the company’s stock.

Several institutional investors have recently modified their holdings of CPT. Bank of New York Mellon Corp boosted its holdings in Camden Property Trust by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,571,979 shares of the real estate investment trust’s stock valued at $143,253,000 after acquiring an additional 43,808 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Camden Property Trust by 2.8% in the third quarter. State of Alaska Department of Revenue now owns 37,852 shares of the real estate investment trust’s stock valued at $3,541,000 after acquiring an additional 1,042 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Camden Property Trust by 1.4% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 80,525 shares of the real estate investment trust’s stock valued at $7,534,000 after acquiring an additional 1,128 shares in the last quarter. First Hawaiian Bank bought a new stake in Camden Property Trust in the third quarter valued at $284,000. Finally, Oakbrook Investments LLC boosted its holdings in Camden Property Trust by 32.6% in the third quarter. Oakbrook Investments LLC now owns 5,688 shares of the real estate investment trust’s stock valued at $532,000 after acquiring an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

About Camden Property Trust

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 159 properties containing 54,480 apartment homes across the United States.

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