Camden Property Trust (NYSE:CPT) Hits New 12-Month High on Analyst Upgrade

Camden Property Trust (NYSE:CPT)’s stock price hit a new 52-week high during trading on Thursday after UBS Group raised their price target on the stock from $109.00 to $117.00. UBS Group currently has a neutral rating on the stock. Camden Property Trust traded as high as $114.49 and last traded at $114.43, with a volume of 109130 shares trading hands. The stock had previously closed at $112.96.

CPT has been the topic of a number of other research reports. Piper Sandler upgraded shares of Camden Property Trust from an “underweight” rating to a “neutral” rating and raised their price target for the company from $90.00 to $110.00 in a report on Monday, May 6th. JPMorgan Chase & Co. raised their target price on Camden Property Trust from $104.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Truist Financial boosted their price target on Camden Property Trust from $114.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Wedbush increased their price objective on Camden Property Trust from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, Wells Fargo & Company boosted their target price on Camden Property Trust from $92.00 to $104.00 and gave the stock an “underweight” rating in a report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $107.75.

Institutional Investors Weigh In On Camden Property Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC raised its position in Camden Property Trust by 3.8% in the first quarter. William Blair Investment Management LLC now owns 3,002 shares of the real estate investment trust’s stock valued at $295,000 after purchasing an additional 109 shares during the last quarter. IFM Investors Pty Ltd grew its position in Camden Property Trust by 0.7% in the 1st quarter. IFM Investors Pty Ltd now owns 17,866 shares of the real estate investment trust’s stock valued at $1,758,000 after purchasing an additional 118 shares during the period. ERn Financial LLC grew its holdings in shares of Camden Property Trust by 2.0% during the first quarter. ERn Financial LLC now owns 6,136 shares of the real estate investment trust’s stock valued at $604,000 after buying an additional 118 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Camden Property Trust by 23.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 636 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 119 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in Camden Property Trust by 90.4% during the first quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 132 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors.

Camden Property Trust Stock Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.43 and a current ratio of 0.43. The company’s 50 day moving average price is $107.21 and its 200-day moving average price is $100.93. The stock has a market cap of $12.23 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 4.35 and a beta of 0.88.

Camden Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $4.12 dividend on an annualized basis and a yield of 3.59%. Camden Property Trust’s dividend payout ratio is presently 100.98%.

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.