Evercore ISI Has Lowered Expectations for Camden Property Trust (NYSE:CPT) Stock Price

Camden Property Trust (NYSE:CPT) had its target price decreased by Evercore ISI from $117.00 to $114.00 in a research note released on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on CPT. Mizuho dropped their target price on Camden Property Trust from $130.00 to $122.00 and set an “outperform” rating for the company in a research report on Friday, May 23rd. Truist Financial set a $131.00 target price on Camden Property Trust and gave the stock a “buy” rating in a research report on Monday, May 19th. UBS Group decreased their price target on Camden Property Trust from $126.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 15th. Wall Street Zen raised Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Camden Property Trust from $127.00 to $129.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Camden Property Trust currently has an average rating of “Hold” and an average target price of $125.69.

Camden Property Trust Stock Performance

NYSE:CPT opened at $104.87 on Tuesday. The business has a 50 day moving average of $113.18 and a 200 day moving average of $115.72. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 73.34, a PEG ratio of 3.53 and a beta of 0.78. Camden Property Trust has a 1-year low of $102.35 and a 1-year high of $127.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.18 and a quick ratio of 0.18.

Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.01. The company had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.24 million. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%. Camden Property Trust’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS. On average, sell-side analysts predict that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $4.20 annualized dividend and a dividend yield of 4.0%. Camden Property Trust’s payout ratio is 293.71%.

Insider Activity

In other news, Director Steven A. Webster sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the transaction, the director directly owned 117,374 shares of the company’s stock, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Camden Property Trust

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of Camden Property Trust by 1.8% during the second quarter. Geode Capital Management LLC now owns 2,961,433 shares of the real estate investment trust’s stock valued at $332,432,000 after buying an additional 51,357 shares during the period. Centersquare Investment Management LLC boosted its position in shares of Camden Property Trust by 3.6% during the first quarter. Centersquare Investment Management LLC now owns 2,614,150 shares of the real estate investment trust’s stock valued at $319,711,000 after purchasing an additional 91,752 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Camden Property Trust by 9.2% during the first quarter. Wellington Management Group LLP now owns 2,271,077 shares of the real estate investment trust’s stock valued at $277,753,000 after purchasing an additional 192,133 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Camden Property Trust by 0.3% during the second quarter. JPMorgan Chase & Co. now owns 1,869,638 shares of the real estate investment trust’s stock valued at $210,690,000 after purchasing an additional 5,846 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Camden Property Trust by 4.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,604,077 shares of the real estate investment trust’s stock valued at $180,763,000 after purchasing an additional 66,039 shares in the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

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.