Camden Property Trust (NYSE:CPT) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Camden Property Trust (NYSE:CPT) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $121.00 price objective on the real estate investment trust’s stock.

CPT has been the subject of several other research reports. Barclays started coverage on shares of Camden Property Trust in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $138.00 target price for the company. JPMorgan Chase & Co. cut shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $129.00 to $128.00 in a research report on Tuesday, December 17th. StockNews.com cut shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Mizuho decreased their target price on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Finally, Jefferies Financial Group began coverage on shares of Camden Property Trust in a report on Friday, October 11th. They issued a “hold” rating and a $123.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Camden Property Trust presently has an average rating of “Hold” and a consensus price target of $125.36.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $110.62 on Wednesday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.72. Camden Property Trust has a fifty-two week low of $90.50 and a fifty-two week high of $127.69. The firm has a 50-day simple moving average of $117.32 and a 200 day simple moving average of $118.63. The company has a market cap of $11.80 billion, a PE ratio of 35.01, a P/E/G ratio of 4.03 and a beta of 0.94.

Camden Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Wednesday, December 18th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Wednesday, December 18th. Camden Property Trust’s dividend payout ratio is presently 130.38%.

Insider Activity at Camden Property Trust

In related news, Director Heather J. Brunner sold 264 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $29,055.84. Following the completion of the sale, the director now owns 10,273 shares in the company, valued at approximately $1,130,646.38. This represents a 2.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alexander J. Jessett sold 1,862 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $204,931.72. Following the completion of the sale, the chief financial officer now owns 122,384 shares of the company’s stock, valued at approximately $13,469,583.04. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,413 shares of company stock valued at $2,895,718 over the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Camden Property Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SMART Wealth LLC purchased a new stake in Camden Property Trust in the 3rd quarter worth approximately $829,000. Nordea Investment Management AB lifted its position in Camden Property Trust by 15.0% in the 4th quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock worth $11,339,000 after buying an additional 12,805 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in Camden Property Trust in the 3rd quarter worth approximately $1,660,000. Franklin Resources Inc. lifted its position in Camden Property Trust by 3.2% in the 3rd quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock worth $23,174,000 after buying an additional 5,985 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Camden Property Trust by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock worth $66,563,000 after buying an additional 51,097 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Company Profile

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.