Camden Property Trust (NYSE:CPT) Raises Dividend to $1.05 Per Share

Camden Property Trust (NYSE:CPT) announced a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 1.05 per share by the real estate investment trust on Thursday, April 17th. This represents a $4.20 annualized dividend and a yield of 3.53%. The ex-dividend date is Monday, March 31st. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03.

Camden Property Trust has increased its dividend payment by an average of 7.5% annually over the last three years. Camden Property Trust has a payout ratio of 249.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Camden Property Trust to earn $6.80 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 60.6%.

Camden Property Trust Price Performance

NYSE CPT traded up $1.43 on Friday, hitting $119.13. The company had a trading volume of 1,116,387 shares, compared to its average volume of 855,128. The company has a market capitalization of $12.71 billion, a PE ratio of 37.72, a PEG ratio of 4.13 and a beta of 0.94. The company’s fifty day moving average price is $115.64 and its 200-day moving average price is $118.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.15. Camden Property Trust has a 12-month low of $90.50 and a 12-month high of $127.69.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.05. Camden Property Trust had a net margin of 22.32% and a return on equity of 6.97%. As a group, analysts predict that Camden Property Trust will post 6.75 earnings per share for the current year.

Insider Buying and Selling at Camden Property Trust

In other Camden Property Trust news, Director Heather J. Brunner sold 1,853 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total transaction of $212,168.50. Following the sale, the director now directly owns 10,537 shares in the company, valued at $1,206,486.50. This represents a 14.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Campo sold 7,324 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction of $838,598.00. Following the sale, the chief executive officer now owns 300,135 shares in the company, valued at $34,365,457.50. This trade represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,413 shares of company stock valued at $2,895,718 over the last 90 days. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CPT. Scotiabank lowered their target price on shares of Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Mizuho lowered their target price on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. cut shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $129.00 to $128.00 in a research report on Tuesday, December 17th. Wells Fargo & Company lowered their price target on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Finally, Barclays lowered their price target on shares of Camden Property Trust from $138.00 to $126.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $125.42.

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 58,250 apartment homes across the United States.