Camden Property Trust (CPT) to Issue Quarterly Dividend of $1.05 on April 17th

Camden Property Trust (NYSE:CPT) announced a quarterly dividend on Thursday, February 6th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be paid a dividend of 1.05 per share by the real estate investment trust on Thursday, April 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Monday, March 31st. This is a 1.9% increase from Camden Property Trust’s previous quarterly dividend of $1.03.

Camden Property Trust has increased its dividend payment by an average of 7.5% annually over the last three years. Camden Property Trust has a payout ratio of 254.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Camden Property Trust to earn $7.07 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 59.4%.

Camden Property Trust Price Performance

NYSE CPT opened at $122.17 on Friday. The business’s fifty day moving average is $118.57 and its 200 day moving average is $119.25. Camden Property Trust has a fifty-two week low of $94.75 and a fifty-two week high of $127.69. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. The company has a market capitalization of $13.04 billion, a PE ratio of 81.45, a price-to-earnings-growth ratio of 4.41 and a beta of 0.94.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a return on equity of 3.35% and a net margin of 10.58%. Sell-side analysts predict that Camden Property Trust will post 6.76 earnings per share for the current year.

Insider Activity at Camden Property Trust

In related news, CEO Richard J. Campo sold 7,324 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction of $838,598.00. Following the completion of the sale, the chief executive officer now directly owns 300,135 shares of the company’s stock, valued at approximately $34,365,457.50. This trade represents a 2.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alexander J. Jessett sold 13,067 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $1,496,171.50. Following the completion of the transaction, the chief financial officer now directly owns 124,246 shares in the company, valued at $14,226,167. This trade represents a 9.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,548 shares of company stock worth $2,912,212. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPT. StockNews.com upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Royal Bank of Canada lifted their target price on Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. Scotiabank upped their price target on Camden Property Trust from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Barclays lifted their price objective on shares of Camden Property Trust from $126.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their target price on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $127.76.

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 58,250 apartment homes across the United States.