Camden Property Trust (NYSE:CPT) Now Covered by Analysts at Goldman Sachs Group

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Goldman Sachs Group assumed coverage on shares of Camden Property Trust (NYSE:CPT) in a research report sent to investors on Friday morning, Benzinga’s Daily Ratings Newsletter reports. The firm issued a buy rating and a $124.00 target price on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on CPT. KeyCorp raised their target price on Camden Property Trust from $112.00 to $117.00 and gave the stock an overweight rating in a report on Tuesday, October 8th. Zacks Investment Research cut Camden Property Trust from a buy rating to a hold rating in a report on Thursday, September 12th. BMO Capital Markets reiterated a buy rating and set a $115.00 price objective on shares of Camden Property Trust in a report on Monday, November 4th. Capital One Financial upgraded Camden Property Trust from an equal weight rating to an overweight rating and lifted their price objective for the company from $107.00 to $119.00 in a report on Monday, September 16th. Finally, Zelman & Associates upgraded Camden Property Trust from a sell rating to a hold rating in a report on Monday, August 12th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $112.29.

CPT traded down $0.15 during midday trading on Friday, reaching $110.12. 326,227 shares of the company were exchanged, compared to its average volume of 489,332. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 0.76. Camden Property Trust has a one year low of $83.67 and a one year high of $116.67. The stock has a market capitalization of $10.85 billion, a P/E ratio of 23.09, a PEG ratio of 3.22 and a beta of 0.39. The stock’s 50-day simple moving average is $112.64 and its 200 day simple moving average is $107.13.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.84). Camden Property Trust had a return on equity of 4.53% and a net margin of 16.22%. The company had revenue of $260.67 million for the quarter, compared to the consensus estimate of $259.56 million. During the same quarter last year, the business posted $1.20 EPS. Camden Property Trust’s quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts anticipate that Camden Property Trust will post 5.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, September 27th. Camden Property Trust’s dividend payout ratio (DPR) is presently 67.09%.

Large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in Camden Property Trust in the 2nd quarter valued at approximately $26,000. HM Payson & Co. bought a new stake in Camden Property Trust in the 2nd quarter valued at approximately $49,000. Capital Investment Advisory Services LLC bought a new stake in Camden Property Trust in the 3rd quarter valued at approximately $56,000. Machina Capital S.A.S. bought a new stake in Camden Property Trust in the 2nd quarter valued at approximately $62,000. Finally, NEXT Financial Group Inc lifted its stake in Camden Property Trust by 15.4% in the 2nd quarter. NEXT Financial Group Inc now owns 898 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 93.56% 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 161 properties containing 55,160 apartment homes across the United States.

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Analyst Recommendations for Camden Property Trust (NYSE:CPT)

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