KeyCorp Raises Camden Property Trust (NYSE:CPT) Price Target to $112.00

Camden Property Trust (NYSE:CPT) had its price target increased by KeyCorp from $105.00 to $112.00 in a research report released on Wednesday, The Fly reports. They currently have an overweight rating on the real estate investment trust’s stock. KeyCorp also issued estimates for Camden Property Trust’s FY2019 earnings at $5.09 EPS and FY2020 earnings at $5.33 EPS.

A number of other equities research analysts have also recently weighed in on CPT. Sandler O’Neill upgraded HomeStreet from a hold rating to a buy rating and set a $31.00 price objective for the company in a research note on Friday, April 5th. Barclays set a €45.00 ($52.33) price objective on Zalando and gave the company a buy rating in a research note on Tuesday, April 16th. Zacks Investment Research upgraded FirstService from a strong sell rating to a hold rating and set a $110.00 price objective for the company in a research note on Tuesday, June 25th. Finally, SunTrust Banks boosted their price objective on Camden Property Trust to $108.00 and gave the company a buy rating in a research note on Thursday, June 13th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $102.00.

Shares of NYSE CPT opened at $108.71 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.21 and a current ratio of 0.21. Camden Property Trust has a twelve month low of $83.67 and a twelve month high of $110.42. The company has a 50 day moving average price of $105.72. The stock has a market capitalization of $10.51 billion, a PE ratio of 22.46, a P/E/G ratio of 3.25 and a beta of 0.45.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.22. Camden Property Trust had a return on equity of 4.45% and a net margin of 15.98%. The company had revenue of $248.57 million during the quarter, compared to analysts’ expectations of $246.50 million. During the same quarter in the previous year, the business earned $1.15 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts predict that Camden Property Trust will post 5.08 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Thursday, June 27th. Camden Property Trust’s payout ratio is currently 67.09%.

In other news, COO H Malcolm Stewart sold 16,200 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $107.17, for a total value of $1,736,154.00. Following the transaction, the chief operating officer now owns 149,537 shares of the company’s stock, valued at $16,025,880.29. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William F. Paulsen sold 1,979 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $102.19, for a total value of $202,234.01. The disclosure for this sale can be found here. In the last three months, insiders sold 115,679 shares of company stock worth $12,211,588. Corporate insiders own 3.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. 6 Meridian grew its holdings in Camden Property Trust by 2.0% during the second quarter. 6 Meridian now owns 5,273 shares of the real estate investment trust’s stock worth $550,000 after acquiring an additional 101 shares during the period. Nisa Investment Advisors LLC grew its holdings in Camden Property Trust by 3.0% during the second quarter. Nisa Investment Advisors LLC now owns 48,307 shares of the real estate investment trust’s stock worth $5,043,000 after acquiring an additional 1,402 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in Camden Property Trust in the second quarter valued at $354,000. Retirement Systems of Alabama grew its holdings in Camden Property Trust by 7.0% in the second quarter. Retirement Systems of Alabama now owns 269,353 shares of the real estate investment trust’s stock valued at $28,118,000 after purchasing an additional 17,560 shares during the last quarter. Finally, WINTON GROUP Ltd grew its holdings in Camden Property Trust by 8.8% in the second quarter. WINTON GROUP Ltd now owns 340,288 shares of the real estate investment trust’s stock valued at $35,523,000 after purchasing an additional 27,575 shares during the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

Camden Property Trust Company Profile

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.

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Analyst Recommendations for Camden Property Trust (NYSE:CPT)

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