Scotiabank Forecasts Strong Price Appreciation for Camden Property Trust (NYSE:CPT) Stock

Camden Property Trust (NYSE:CPT) had its target price upped by Scotiabank from $130.00 to $135.00 in a report issued on Friday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

A number of other research firms also recently issued reports on CPT. Wells Fargo & Company dropped their price target on Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Stifel Nicolaus lifted their target price on Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Evercore ISI lifted their target price on Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. StockNews.com upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays lowered their target price on Camden Property Trust from $138.00 to $126.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $126.31.

Camden Property Trust Stock Performance

CPT stock opened at $119.11 on Friday. The company has a market cap of $12.71 billion, a P/E ratio of 79.41, a price-to-earnings-growth ratio of 4.27 and a beta of 0.94. Camden Property Trust has a 1 year low of $92.26 and a 1 year high of $127.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.15. The stock’s fifty day moving average price is $115.19 and its 200-day moving average price is $119.12.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a return on equity of 3.32% and a net margin of 10.58%. On average, equities analysts forecast that Camden Property Trust will post 6.8 earnings per share for the current year.

Camden Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.53%. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, March 31st. Camden Property Trust’s payout ratio is presently 274.67%.

Insider Buying and Selling

In related news, CEO Richard J. Campo sold 1,043 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total value of $114,792.58. Following the sale, the chief executive officer now directly owns 299,092 shares in the company, valued at approximately $32,918,065.52. The trade was a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alexander J. Jessett sold 1,862 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total value of $204,931.72. Following the completion of the sale, the chief financial officer now owns 122,384 shares in the company, valued at $13,469,583.04. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,413 shares of company stock worth $2,895,718. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Camden Property Trust

A number of hedge funds have recently made changes to their positions in CPT. National Pension Service bought a new stake in Camden Property Trust during the fourth quarter worth approximately $26,000. UMB Bank n.a. increased its stake in Camden Property Trust by 76.6% during the fourth quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 98 shares during the last quarter. Quent Capital LLC increased its stake in Camden Property Trust by 87.0% during the fourth quarter. Quent Capital LLC now owns 245 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 114 shares during the last quarter. IAG Wealth Partners LLC bought a new stake in Camden Property Trust during the fourth quarter worth approximately $29,000. Finally, Bellwether Advisors LLC bought a new stake in Camden Property Trust during the fourth quarter worth approximately $31,000. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

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.