Scotiabank Issues Pessimistic Forecast for Camden Property Trust (NYSE:CPT) Stock Price

Camden Property Trust (NYSE:CPT) had its price objective reduced by Scotiabank from $132.00 to $130.00 in a report issued on Thursday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

A number of other research firms also recently issued reports on CPT. JPMorgan Chase & Co. boosted their target price on shares of Camden Property Trust from $112.00 to $129.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Bank of America raised shares of Camden Property Trust from an “underperform” rating to a “buy” rating and increased their target price for the stock from $111.00 to $147.00 in a research note on Monday, August 12th. UBS Group lifted their price target on Camden Property Trust from $109.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Stifel Nicolaus lowered Camden Property Trust from a “buy” rating to a “hold” rating and lifted their price target for the company from $120.00 to $121.00 in a research note on Wednesday, November 13th. Finally, StockNews.com lowered Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $122.50.

Camden Property Trust Price Performance

NYSE CPT opened at $119.77 on Thursday. The firm has a market capitalization of $12.78 billion, a P/E ratio of 37.90, a P/E/G ratio of 4.37 and a beta of 0.91. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.72. Camden Property Trust has a 12-month low of $86.50 and a 12-month high of $127.69. The firm’s fifty day simple moving average is $121.10 and its two-hundred day simple moving average is $115.00.

Camden Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Monday, September 30th. Camden Property Trust’s dividend payout ratio is presently 130.38%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CPT. Wellington Management Group LLP lifted its stake in Camden Property Trust by 86.9% during the third quarter. Wellington Management Group LLP now owns 1,974,842 shares of the real estate investment trust’s stock worth $243,952,000 after purchasing an additional 918,078 shares in the last quarter. Centersquare Investment Management LLC increased its holdings in 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 valued at $228,939,000 after buying an additional 898,398 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Camden Property Trust by 508.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 946,417 shares of the real estate investment trust’s stock valued at $116,911,000 after buying an additional 790,974 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Camden Property Trust by 97.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,279,266 shares of the real estate investment trust’s stock valued at $158,028,000 after buying an additional 630,768 shares during the last quarter. Finally, Duquesne Family Office LLC purchased a new position in Camden Property Trust in the second quarter valued at $63,056,000. 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 58,250 apartment homes across the United States.