Camden Property Trust (NYSE:CPT) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Camden Property Trust (NYSE:CPT) from an underweight rating to an equal weight rating in a report published on Monday, Marketbeat reports. The firm currently has $127.00 price target on the real estate investment trust’s stock, up from their previous price target of $104.00.

Several other equities analysts also recently weighed in on the stock. Wedbush increased their price target on shares of Camden Property Trust from $118.00 to $131.00 and gave the stock an outperform rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Camden Property Trust from $104.00 to $112.00 and gave the stock a neutral rating in a research note on Monday, June 17th. Piper Sandler raised shares of Camden Property Trust from an underweight rating to a neutral rating and raised their price objective for the stock from $90.00 to $110.00 in a research note on Monday, May 6th. Morgan Stanley raised their price objective 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. Finally, Mizuho dropped their price objective on shares of Camden Property Trust from $111.00 to $108.00 and set a buy rating on the stock in a research note on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Camden Property Trust presently has an average rating of Hold and an average target price of $116.62.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $124.73 on Monday. Camden Property Trust has a twelve month low of $82.81 and a twelve month high of $125.35. The company’s 50 day moving average is $114.09 and its 200 day moving average is $105.17. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.71. The company has a market cap of $13.29 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 4.50 and a beta of 0.88.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.95% and a net margin of 25.64%. The business had revenue of $387.15 million during the quarter, compared to analyst estimates of $384.76 million. During the same quarter last year, the company posted $1.70 EPS. On average, sell-side analysts forecast that Camden Property Trust will post 6.73 EPS for the current year.

Camden Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were issued a $1.03 dividend. 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 3.30%. Camden Property Trust’s payout ratio is currently 100.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its holdings in shares of Camden Property Trust by 90.4% during the 1st quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 132 shares during the period. Kings Path Partners LLC purchased a new position in shares of Camden Property Trust during the 2nd quarter worth $33,000. Federated Hermes Inc. purchased a new position in shares of Camden Property Trust during the 2nd quarter worth $33,000. Family Firm Inc. purchased a new position in shares of Camden Property Trust during the 2nd quarter worth $39,000. Finally, Versant Capital Management Inc raised its holdings in shares of Camden Property Trust by 2,187.5% during the 2nd quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 350 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

About Camden Property Trust

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.