Citigroup Boosts Camden Property Trust (NYSE:CPT) Price Target to $115.00

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Camden Property Trust (NYSE:CPT) had its target price hoisted by Citigroup from $109.00 to $115.00 in a research note published on Thursday morning, Stock Target Advisor reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the company. Zelman & Associates upgraded Camden Property Trust from a sell rating to a hold rating in a report on Monday, August 12th. Barclays reiterated a buy rating and issued a $124.00 price objective on shares of Camden Property Trust in a report on Sunday, October 13th. KeyCorp upped their price objective on Camden Property Trust from $112.00 to $117.00 and gave the stock an overweight rating in a report on Tuesday, October 8th. BMO Capital Markets reiterated a buy rating and issued a $115.00 price objective on shares of Camden Property Trust in a report on Monday, November 4th. Finally, Capital One Financial upgraded Camden Property Trust from an equal weight rating to an overweight rating and upped their price objective for the stock from $107.00 to $119.00 in a report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $112.29.

Shares of CPT traded down $0.15 during midday trading on Thursday, reaching $110.12. The stock had a trading volume of 326,227 shares, compared to its average volume of 489,332. The company’s 50-day moving average is $112.64 and its 200 day moving average is $107.13. Camden Property Trust has a 12-month low of $83.67 and a 12-month high of $116.67. The company has a current ratio of 0.76, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 3.22 and a beta of 0.39.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $260.67 million during the quarter, compared to analysts’ expectations of $259.56 million. During the same quarter in the previous year, the company posted $1.20 earnings per share. Camden Property Trust’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts forecast that Camden Property Trust will post 5.02 EPS for the current fiscal year.

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

Hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new stake in Camden Property Trust during the 2nd quarter valued at about $26,000. HM Payson & Co. purchased a new stake in Camden Property Trust during the 2nd quarter valued at about $49,000. Capital Investment Advisory Services LLC purchased a new stake in Camden Property Trust during the 3rd quarter valued at about $56,000. Machina Capital S.A.S. bought a new position in Camden Property Trust during the 2nd quarter valued at approximately $62,000. Finally, NEXT Financial Group Inc raised its position in Camden Property Trust by 15.4% during the 2nd quarter. NEXT Financial Group Inc now owns 898 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 120 shares during the last quarter. Institutional investors 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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