Camden Property Trust’s (CPT) Hold Rating Reaffirmed at Robert W. Baird
Robert W. Baird restated their hold rating on shares of Camden Property Trust (NYSE:CPT) in a research note released on Tuesday morning. They currently have a $93.00 target price on the real estate investment trust’s stock.
Several other research firms also recently commented on CPT. Mizuho reiterated a hold rating and issued a $90.00 price objective on shares of Camden Property Trust in a report on Sunday, October 15th. KeyCorp lifted their price objective on Camden Property Trust from $93.00 to $98.00 and gave the stock an overweight rating in a report on Friday, September 15th. UBS Group reiterated a sell rating and issued a $86.00 price objective (up previously from $80.00) on shares of Camden Property Trust in a report on Thursday, September 14th. BMO Capital Markets reiterated a buy rating and issued a $97.00 price objective on shares of Camden Property Trust in a report on Monday, November 27th. Finally, JPMorgan Chase & Co. upgraded Camden Property Trust from a neutral rating to an overweight rating and set a $100.00 price objective on the stock in a report on Friday, December 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. Camden Property Trust currently has a consensus rating of Hold and an average target price of $93.67.
Shares of Camden Property Trust (NYSE CPT) traded down $0.78 during mid-day trading on Tuesday, reaching $84.77. The company’s stock had a trading volume of 557,623 shares, compared to its average volume of 492,849. The company has a market capitalization of $7,928.36, a price-to-earnings ratio of 51.69, a P/E/G ratio of 3.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.94 and a current ratio of 1.94. Camden Property Trust has a 52-week low of $78.38 and a 52-week high of $96.39.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Friday, December 15th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, December 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.54%. Camden Property Trust’s dividend payout ratio is presently 182.93%.
In related news, Chairman Richard J. Campo sold 379 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $94.44, for a total transaction of $35,792.76. Following the transaction, the chairman now owns 338,519 shares in the company, valued at approximately $31,969,734.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kelvin R. Westbrook sold 425 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $88.42, for a total value of $37,578.50. Following the transaction, the director now owns 20,477 shares in the company, valued at approximately $1,810,576.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,297 shares of company stock worth $11,635,108. 4.70% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in CPT. YorkBridge Wealth Partners LLC increased its holdings in Camden Property Trust by 6.1% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 67 shares during the period. Penserra Capital Management LLC purchased a new position in shares of Camden Property Trust during the 3rd quarter worth approximately $110,000. Perigon Wealth Management LLC grew its holdings in shares of Camden Property Trust by 59.3% during the 2nd quarter. Perigon Wealth Management LLC now owns 2,150 shares of the real estate investment trust’s stock worth $185,000 after acquiring an additional 800 shares during the period. Bbva Compass Bancshares Inc. purchased a new position in shares of Camden Property Trust during the 3rd quarter worth approximately $234,000. Finally, Koch Industries Inc. purchased a new position in shares of Camden Property Trust during the 2nd quarter worth approximately $236,000. Institutional investors own 96.86% of the company’s stock.
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Camden Property Trust Company Profile
Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. As of December 31, 2016, the Company owned interests in, operated, or were developing 159 multifamily properties, which consisted of 55,366 apartment homes across the United States.
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