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

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

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group began coverage on Camden Property Trust in a research note on Wednesday, September 4th. They set a neutral rating and a $139.00 price objective on the stock. Morgan Stanley upped their price objective on Camden Property Trust from $98.00 to $105.50 and gave the company an equal weight rating in a research note on Tuesday, May 14th. Bank of America upgraded Camden Property Trust from an underperform rating to a buy rating and upped their price objective for the company from $111.00 to $147.00 in a research note on Monday, August 12th. Wells Fargo & Company upgraded Camden Property Trust from an underweight rating to an equal weight rating and upped their price objective for the company from $104.00 to $127.00 in a research note on Monday, August 26th. Finally, Wedbush upped their price objective on Camden Property Trust from $118.00 to $131.00 and gave the company an outperform rating in a research note on Monday, August 5th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $120.25.

Camden Property Trust Trading Down 0.5 %

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. Camden Property Trust has a one year low of $82.81 and a one year high of $127.23. The business’s 50-day simple moving average is $116.72 and its 200 day simple moving average is $107.10. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 4.59 and a beta of 0.90.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.98% 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 firm posted $1.70 EPS. As a group, sell-side analysts predict that Camden Property Trust will post 6.77 earnings per share for the current fiscal year.

Camden Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Friday, June 28th. Camden Property Trust’s dividend payout ratio (DPR) is 100.98%.

Hedge Funds Weigh In On Camden Property Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Camden Property Trust by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock worth $1,701,521,000 after buying an additional 289,425 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Camden Property Trust by 5.0% in the 2nd quarter. Victory Capital Management Inc. now owns 4,314,030 shares of the real estate investment trust’s stock worth $470,704,000 after buying an additional 206,654 shares in the last quarter. Norges Bank bought a new position in Camden Property Trust during the 4th quarter valued at $376,933,000. Centersquare Investment Management LLC boosted its stake in Camden Property Trust by 64.2% during the 1st quarter. Centersquare Investment Management LLC now owns 2,296,741 shares of the real estate investment trust’s stock valued at $228,939,000 after purchasing an additional 898,398 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Camden Property Trust by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,597,441 shares of the real estate investment trust’s stock valued at $174,299,000 after purchasing an additional 54,475 shares in the last quarter. 97.22% of the stock is owned by 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.