Camden Property Trust (NYSE:CPT) Given New $118.00 Price Target at Deutsche Bank

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Camden Property Trust (NYSE:CPT) had its price target increased by Deutsche Bank from $116.00 to $118.00 in a research report released on Monday morning, BenzingaRatingsTable reports. The firm currently has a hold rating on the real estate investment trust’s stock.

A number of other research analysts have also commented on CPT. Goldman Sachs Group assumed coverage on Camden Property Trust in a report on Friday, November 8th. They issued a buy rating and a $124.00 price objective on the stock. Zelman & Associates raised Camden Property Trust from a sell rating to a hold rating in a report on Monday, August 12th. Scotiabank raised Camden Property Trust from a sector perform rating to a sector outperform rating and set a $122.00 target price on the stock in a report on Tuesday, November 26th. BMO Capital Markets reissued a buy rating and set a $115.00 target price on shares of Camden Property Trust in a report on Monday, November 4th. Finally, Capital One Financial raised Camden Property Trust from an equal weight rating to an overweight rating and increased their target price for the stock from $107.00 to $119.00 in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Camden Property Trust currently has an average rating of Buy and an average target price of $113.73.

CPT traded down $0.09 during trading hours on Monday, reaching $110.40. The company’s stock had a trading volume of 7,253 shares, compared to its average volume of 422,669. Camden Property Trust has a 52 week low of $83.67 and a 52 week high of $116.67. The company’s 50-day moving average is $112.02 and its 200-day moving average is $108.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $10.70 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 3.24 and a beta of 0.38.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.84). Camden Property Trust had a net margin of 16.22% and a return on equity of 4.53%. The business had revenue of $260.67 million during the quarter, compared to the consensus estimate of $259.56 million. During the same quarter last year, the company posted $1.20 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Equities analysts anticipate that Camden Property Trust will post 5.01 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, December 16th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, December 13th. Camden Property Trust’s dividend payout ratio (DPR) is presently 67.09%.

In related news, Vice Chairman D Keith Oden sold 89,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $112.92, for a total value of $10,049,880.00. Also, CEO Richard J. Campo sold 25,976 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $112.65, for a total value of $2,926,196.40. Following the completion of the sale, the chief executive officer now directly owns 253,664 shares in the company, valued at $28,575,249.60. The disclosure for this sale can be found here. Insiders sold 161,591 shares of company stock worth $18,191,363 over the last ninety days. 3.40% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its position in Camden Property Trust by 1,004.8% in the 3rd quarter. Millennium Management LLC now owns 915,350 shares of the real estate investment trust’s stock valued at $101,613,000 after buying an additional 832,501 shares during the period. Voloridge Investment Management LLC raised its position in shares of Camden Property Trust by 94.9% in the third quarter. Voloridge Investment Management LLC now owns 12,050 shares of the real estate investment trust’s stock valued at $1,338,000 after buying an additional 5,868 shares during the last quarter. Coldstream Capital Management Inc. raised its position in shares of Camden Property Trust by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 11,410 shares of the real estate investment trust’s stock valued at $1,266,000 after buying an additional 342 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Camden Property Trust in the third quarter valued at approximately $300,000. Finally, Penserra Capital Management LLC raised its position in shares of Camden Property Trust by 25.0% in the third quarter. Penserra Capital Management LLC now owns 920 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 93.04% 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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