Evercore ISI Raises Camden Property Trust (NYSE:CPT) Price Target to $115.00

Camden Property Trust (NYSE:CPT) had its price target hoisted by Evercore ISI from $110.00 to $115.00 in a report published on Wednesday, Benzinga reports. The firm currently has an in-line rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on CPT. Piper Sandler boosted their price objective on shares of Camden Property Trust from $110.00 to $128.00 and gave the company a neutral rating in a research report on Monday, August 26th. Morgan Stanley increased their price target on shares of Camden Property Trust from $98.00 to $105.50 and gave the stock an equal weight rating in a research note on Tuesday, May 14th. Wells Fargo & Company raised Camden Property Trust from an underweight rating to an equal weight rating and lifted their price objective for the company from $104.00 to $127.00 in a research report on Monday, August 26th. Mizuho decreased their target price on Camden Property Trust from $111.00 to $108.00 and set a buy rating for the company in a research report on Thursday, May 30th. Finally, UBS Group lifted their price target on Camden Property Trust from $109.00 to $117.00 and gave the company a neutral rating in a research report on Thursday, July 18th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Camden Property Trust has a consensus rating of Hold and a consensus price target of $116.62.

Camden Property Trust Price Performance

CPT stock opened at $125.20 on Wednesday. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 4.50 and a beta of 0.88. The firm’s 50-day moving average price is $114.69 and its two-hundred day moving average price is $105.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.71. Camden Property Trust has a 12-month low of $82.81 and a 12-month high of $125.35.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The business had revenue of $387.15 million for the quarter, compared to analysts’ expectations of $384.76 million. Camden Property Trust had a net margin of 25.64% and a return on equity of 7.95%. During the same quarter in the prior year, the firm earned $1.70 EPS. As a group, equities analysts predict that Camden Property Trust will post 6.73 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were given a $1.03 dividend. The ex-dividend date was Friday, June 28th. This represents a $4.12 annualized dividend and a yield of 3.29%. Camden Property Trust’s dividend payout ratio (DPR) is presently 100.98%.

Hedge Funds Weigh In On Camden Property Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPT. International Assets Investment Management LLC bought a new position in Camden Property Trust in the 4th quarter valued at approximately $90,900,000. Van ECK Associates Corp lifted its position in Camden Property Trust by 14.3% in the 4th quarter. Van ECK Associates Corp now owns 43,459 shares of the real estate investment trust’s stock valued at $4,315,000 after acquiring an additional 5,423 shares in the last quarter. Cannell & Co. bought a new position in Camden Property Trust in the 4th quarter valued at approximately $7,358,000. Victory Capital Management Inc. lifted its holdings in shares of Camden Property Trust by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 3,686,395 shares of the real estate investment trust’s stock valued at $366,022,000 after buying an additional 87,337 shares during the period. Finally, New York Life Investment Management LLC lifted its holdings in shares of Camden Property Trust by 73.9% during the 4th quarter. New York Life Investment Management LLC now owns 30,347 shares of the real estate investment trust’s stock valued at $3,013,000 after buying an additional 12,898 shares during the period. 97.22% of the stock is 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 58,634 apartment homes across the United States.