Piper Sandler Boosts Camden Property Trust (NYSE:CPT) Price Target to $128.00

Camden Property Trust (NYSE:CPT) had its price objective raised by Piper Sandler from $110.00 to $128.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on CPT. Morgan Stanley raised their target price on Camden Property Trust from $98.00 to $105.50 and gave the stock an equal weight rating in a research report on Tuesday, May 14th. Bank of America raised Camden Property Trust from an underperform rating to a buy rating and lifted their price objective for the stock from $111.00 to $147.00 in a research note on Monday, August 12th. Scotiabank upped their target price on Camden Property Trust from $116.00 to $125.00 and gave the company a sector perform rating in a report on Monday. Mizuho dropped their price target on shares of Camden Property Trust from $111.00 to $108.00 and set a buy rating on the stock in a research report on Thursday, May 30th. Finally, Royal Bank of Canada upped their price objective 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. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $116.62.

Camden Property Trust Stock Performance

NYSE:CPT opened at $123.95 on Monday. The stock’s 50-day moving average is $114.38 and its 200-day moving average is $105.31. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $125.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.71. The stock has a market cap of $13.21 billion, a P/E ratio of 30.38, a price-to-earnings-growth ratio of 4.50 and a beta of 0.88.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $384.76 million. During the same quarter in the prior year, the business earned $1.70 earnings per share. Equities research analysts anticipate that Camden Property Trust will post 6.73 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, June 28th. This represents a $4.12 annualized dividend and a dividend yield of 3.32%. Camden Property Trust’s dividend payout ratio is currently 100.98%.

Institutional Trading of Camden Property Trust

Large investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Camden Property Trust by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191,374 shares of the real estate investment trust’s stock worth $18,831,000 after acquiring an additional 27,465 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Camden Property Trust by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 160,309 shares of the real estate investment trust’s stock worth $15,781,000 after buying an additional 5,926 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Camden Property Trust by 59.4% in the first quarter. Illinois Municipal Retirement Fund now owns 18,831 shares of the real estate investment trust’s stock valued at $1,853,000 after buying an additional 7,018 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in shares of Camden Property Trust during the fourth quarter valued at about $1,374,000. Finally, Eminence Capital LP acquired a new position in shares of Camden Property Trust during the fourth quarter valued at about $18,737,000. 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.