Camden Property Trust (NYSE:CPT) Stock Rating Raised to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Camden Property Trust (NYSE:CPT) from a strong sell rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

Several other brokerages also recently weighed in on CPT. Truist Financial cut their target price on Camden Property Trust from $123.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. Barclays decreased their price target on shares of Camden Property Trust from $123.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 14th. Morgan Stanley reduced their price objective on shares of Camden Property Trust from $120.00 to $118.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. JPMorgan Chase & Co. increased their target price on Camden Property Trust from $113.00 to $114.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $114.00 price target on shares of Camden Property Trust in a research report on Monday, July 20th. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Camden Property Trust has a consensus rating of “Hold” and an average target price of $111.62.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $99.83 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.25. Camden Property Trust has a fifty-two week low of $95.30 and a fifty-two week high of $119.81. The business has a 50 day moving average price of $100.55 and a two-hundred day moving average price of $105.83. The firm has a market cap of $10.04 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 7.39 and a beta of 0.75.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. Camden Property Trust had a net margin of 71.94% and a return on equity of 26.99%. The firm had revenue of $381.06 million during the quarter, compared to the consensus estimate of $384.88 million. During the same quarter in the previous year, the company posted $1.70 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. Sell-side analysts expect that Camden Property Trust will post 6.75 earnings per share for the current fiscal year.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were given a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Camden Property Trust’s dividend payout ratio is presently 140.40%.

Hedge Funds Weigh In On Camden Property Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aew Capital Management Inc. bought a new position in Camden Property Trust in the 3rd quarter worth approximately $85,702,000. Russell Investments Group Ltd. boosted its position in Camden Property Trust by 120.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,463,966 shares of the real estate investment trust’s stock valued at $141,609,000 after buying an additional 800,168 shares during the last quarter. Retirement Systems of Alabama boosted its position in Camden Property Trust by 906.2% in the 3rd quarter. Retirement Systems of Alabama now owns 792,717 shares of the real estate investment trust’s stock valued at $76,680,000 after buying an additional 713,933 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Camden Property Trust by 100.2% in the 1st quarter. Jennison Associates LLC now owns 1,206,854 shares of the real estate investment trust’s stock valued at $117,861,000 after buying an additional 603,997 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Camden Property Trust by 945.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 616,861 shares of the real estate investment trust’s stock valued at $59,669,000 after buying an additional 557,850 shares during the period. Institutional investors own 97.22% of the company’s stock.

Key Headlines Impacting Camden Property Trust

Here are the key news stories impacting Camden Property Trust this week:

• Positive Sentiment: Q3 funds from operations (FFO) were $1.71 per share, topping the $1.69 consensus and rising from $1.70 a year earlier. The company also cited improving leasing trends and lower property expenses. Camden Property’s Q3 FFO Beats Estimates as Leasing Trends Improve
• Neutral Sentiment: Camden forecast Q4 core FFO of $1.63–$1.67 per share; the available report did not provide a comparable analyst estimate to gauge whether the outlook is above or below expectations. Camden Property Trust Q4 Core FFO Guidance
• Negative Sentiment: Revenue was $381.06 million, below analysts’ $384.88 million estimate and down 3.7% year over year. Reports also flagged weakness in same-property NOI, tempering the FFO beat and raising concerns about operating momentum. Camden Property Q3 FFO Higher, Revenue Lower; Issues Guidance

About Camden Property Trust

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas.

Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.