Royal Bank of Canada Cuts Camden Property Trust (NYSE:CPT) Price Target to $127.00

Camden Property Trust (NYSE:CPT) had its price objective reduced by Royal Bank of Canada from $131.00 to $127.00 in a report released on Monday, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other research analysts also recently issued reports on the stock. Truist Financial upped their target price on shares of Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Scotiabank lifted their target price on Camden Property Trust from $125.00 to $132.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. The Goldman Sachs Group started coverage on Camden Property Trust in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $139.00 price target for the company. Bank of America raised Camden Property Trust from an “underperform” rating to a “buy” rating and increased their price objective for the company from $111.00 to $147.00 in a research report on Monday, August 12th. Finally, Evercore ISI lifted their price objective on Camden Property Trust from $116.00 to $118.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Camden Property Trust presently has an average rating of “Hold” and a consensus price target of $122.03.

Camden Property Trust Price Performance

CPT opened at $115.91 on Monday. The firm has a market cap of $12.36 billion, a PE ratio of 36.68, a P/E/G ratio of 4.25 and a beta of 0.91. The stock has a 50-day moving average price of $121.89 and a 200-day moving average price of $113.63. Camden Property Trust has a 1 year low of $85.30 and a 1 year high of $127.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.37.

Camden Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were paid a $1.03 dividend. The ex-dividend date was Monday, September 30th. This represents a $4.12 annualized dividend and a dividend yield of 3.55%. Camden Property Trust’s dividend payout ratio (DPR) is 130.38%.

Hedge Funds Weigh In On Camden Property Trust

Several institutional investors and hedge funds have recently bought and sold shares of CPT. Centersquare Investment Management LLC raised its stake in shares of Camden Property Trust by 64.2% in the first quarter. Centersquare Investment Management LLC now owns 2,296,741 shares of the real estate investment trust’s stock worth $228,939,000 after buying an additional 898,398 shares during the period. Duquesne Family Office LLC purchased a new stake in Camden Property Trust in the 2nd quarter worth approximately $63,056,000. Robeco Institutional Asset Management B.V. raised its stake in Camden Property Trust by 4,254.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 341,810 shares of the real estate investment trust’s stock worth $42,224,000 after acquiring an additional 333,961 shares during the period. Vanguard Group Inc. raised its stake in Camden Property Trust by 1.7% during 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 acquiring an additional 289,425 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Camden Property Trust by 690.1% during the second quarter. American Century Companies Inc. now owns 248,533 shares of the real estate investment trust’s stock valued at $27,117,000 after purchasing an additional 217,076 shares in the last quarter. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

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.