Camden Property Trust (NYSE:CPT) Announces Quarterly Dividend of $1.03

Camden Property Trust (NYSE:CPT) announced a quarterly dividend on Wednesday, December 4th,RTT News reports. Investors of record on Wednesday, December 18th will be paid a dividend of 1.03 per share by the real estate investment trust on Friday, January 17th. This represents a $4.12 annualized dividend and a yield of 3.37%.

Camden Property Trust has raised its dividend payment by an average of 6.4% annually over the last three years. Camden Property Trust has a payout ratio of 249.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Camden Property Trust to earn $6.90 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 59.7%.

Camden Property Trust Trading Down 0.4 %

Shares of NYSE:CPT opened at $122.12 on Thursday. The company has a market cap of $13.03 billion, a PE ratio of 38.65, a P/E/G ratio of 4.47 and a beta of 0.92. The company’s 50-day moving average price is $120.77 and its 200 day moving average price is $116.54. Camden Property Trust has a fifty-two week low of $90.50 and a fifty-two week high of $127.69. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.72.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CPT shares. Evercore ISI lifted their price objective on shares of Camden Property Trust from $116.00 to $118.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company raised shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $104.00 to $127.00 in a research note on Monday, August 26th. Scotiabank lowered their target price on shares of Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Truist Financial raised their target price on shares of Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Bank of America raised shares of Camden Property Trust from an “underperform” rating to a “buy” rating and raised their target price for the company from $111.00 to $147.00 in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.50.

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 58,250 apartment homes across the United States.