Camden Property Trust (NYSE:CPT) Downgraded by Royal Bank of Canada to “Sector Perform”

Royal Bank of Canada downgraded shares of Camden Property Trust (NYSE:CPT) from an outperform rating to a sector perform rating in a report released on Monday morning, MarketBeat.com reports. They currently have $122.00 price target on the real estate investment trust’s stock.

Several other analysts also recently issued reports on CPT. Morgan Stanley boosted their price objective on Camden Property Trust from $98.00 to $105.50 and gave the stock an equal weight rating in a report on Tuesday, May 14th. Wells Fargo & Company upgraded shares of Camden Property Trust from an underweight rating to an equal weight rating and upped their price target for the company from $104.00 to $127.00 in a research report on Monday, August 26th. Piper Sandler lifted their price objective on shares of Camden Property Trust from $110.00 to $128.00 and gave the stock a neutral rating in a research report on Monday, August 26th. Mizuho reduced their target price on Camden Property Trust from $111.00 to $108.00 and set a buy rating for the company in a report on Thursday, May 30th. Finally, Evercore ISI lifted their price target on Camden Property Trust from $110.00 to $115.00 and gave the company an in-line rating in a report on Wednesday, August 28th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $120.25.

Camden Property Trust Trading Down 0.5 %

Shares of NYSE:CPT opened at $122.53 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 4.59 and a beta of 0.90. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $127.23. The company has a 50 day moving average price of $116.72 and a 200 day moving average price of $107.10.

Camden Property Trust (NYSE:CPT) last issued its 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 company had revenue of $387.15 million during the quarter, compared to analyst estimates of $384.76 million. Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. During the same quarter in the previous year, the firm earned $1.70 earnings per share. On average, research analysts anticipate that Camden Property Trust will post 6.77 EPS for the current fiscal 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 paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Friday, June 28th. Camden Property Trust’s payout ratio is presently 100.98%.

Hedge Funds Weigh In On Camden Property Trust

Hedge funds have recently bought and sold shares of the business. Lindbrook Capital LLC boosted its stake 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 in the last quarter. Kings Path Partners LLC acquired a new stake in Camden Property Trust in the 2nd quarter worth approximately $33,000. Federated Hermes Inc. bought a new stake in Camden Property Trust during the second quarter worth approximately $33,000. Family Firm Inc. acquired a new position in Camden Property Trust during the second quarter valued at approximately $39,000. Finally, Versant Capital Management Inc raised its position in shares of Camden Property Trust by 2,187.5% in the second quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 350 shares during the period. 97.22% of the stock is owned by institutional investors and hedge funds.

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.