Camden Property Trust (NYSE:CPT) Lifted to “Buy” at Bank of America

Bank of America upgraded shares of Camden Property Trust (NYSE:CPT) from an underperform rating to a buy rating in a research report report published on Monday morning, Marketbeat Ratings reports. Bank of America currently has $147.00 price target on the real estate investment trust’s stock, up from their prior price target of $111.00.

Other analysts have also issued reports about the stock. Morgan Stanley lifted their target price on shares of Camden Property Trust from $98.00 to $105.50 and gave the company an equal weight rating in a research report on Tuesday, May 14th. Wedbush raised their target price on Camden Property Trust from $118.00 to $131.00 and gave the stock an outperform rating in a research report on Monday, August 5th. StockNews.com raised Camden Property Trust from a sell rating to a hold rating in a research note on Tuesday, April 30th. Royal Bank of Canada boosted their target price on shares of Camden Property Trust from $114.00 to $122.00 and gave the company an outperform rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company increased their target price on shares of Camden Property Trust from $92.00 to $104.00 and gave the stock an underweight rating in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Camden Property Trust presently has a consensus rating of Hold and an average target price of $113.03.

Camden Property Trust Trading Up 0.3 %

Shares of CPT stock opened at $119.92 on Monday. Camden Property Trust has a 12 month low of $82.81 and a 12 month high of $121.29. The company has a market cap of $12.78 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 4.50 and a beta of 0.88. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $111.36 and its two-hundred day moving average is $103.32.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.95% and a net margin of 25.64%. The business had revenue of $387.15 million during the quarter, compared to the consensus estimate of $384.76 million. During the same quarter in the previous year, the firm posted $1.70 earnings per share. Equities analysts predict that Camden Property Trust will post 6.73 EPS for the current year.

Camden Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $4.12 annualized dividend and a yield of 3.44%. Camden Property Trust’s dividend payout ratio (DPR) is presently 100.98%.

Hedge Funds Weigh In On Camden Property Trust

Institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in shares of Camden Property Trust by 90.4% during the 1st quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 132 shares during the last quarter. Kings Path Partners LLC acquired a new position in shares of Camden Property Trust in the second quarter valued at $33,000. Federated Hermes Inc. bought a new position in shares of Camden Property Trust in the second quarter valued at about $33,000. Family Firm Inc. bought a new position in shares of Camden Property Trust in the second quarter valued at about $39,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Camden Property Trust by 2,187.5% during the 2nd quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 350 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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 58,634 apartment homes across the United States.