Camden Property Trust (NYSE:CPT) declared a quarterly dividend on Friday, June 14th, NASDAQ reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.80 per share by the real estate investment trust on Wednesday, July 17th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Thursday, June 27th.
Camden Property Trust has raised its dividend by an average of 3.5% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Camden Property Trust has a payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Camden Property Trust to earn $5.30 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 60.4%.
Shares of NYSE CPT traded up $1.15 during midday trading on Tuesday, reaching $107.08. 13,110 shares of the stock traded hands, compared to its average volume of 483,847. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $10.26 billion, a PE ratio of 22.44, a PEG ratio of 3.18 and a beta of 0.46. Camden Property Trust has a one year low of $83.67 and a one year high of $108.22. The stock has a 50 day moving average of $103.79.
Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, meeting analysts’ consensus estimates of $1.22. The firm had revenue of $248.57 million during the quarter, compared to the consensus estimate of $246.50 million. Camden Property Trust had a return on equity of 4.45% and a net margin of 15.98%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 EPS. On average, equities research analysts forecast that Camden Property Trust will post 5.07 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the company. Barclays restated a “buy” rating and issued a $108.00 price target on shares of Camden Property Trust in a research report on Tuesday, April 16th. Zacks Investment Research upgraded Camden Property Trust from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research report on Monday. SunTrust Banks raised their price target on Camden Property Trust to $108.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Sandler O’Neill downgraded Camden Property Trust from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Finally, KeyCorp raised their price target on Camden Property Trust from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Camden Property Trust presently has a consensus rating of “Buy” and a consensus target price of $101.53.
In other news, COO H Malcolm Stewart sold 16,200 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $107.17, for a total transaction of $1,736,154.00. Following the transaction, the chief operating officer now owns 149,537 shares in the company, valued at $16,025,880.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President D Keith Oden sold 37,500 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $105.44, for a total value of $3,954,000.00. Following the transaction, the president now owns 291,083 shares in the company, valued at approximately $30,691,791.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,679 shares of company stock worth $12,211,588. Insiders own 3.40% of the company’s stock.
About Camden Property Trust
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.
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