Camden Property Trust (NYSE:CPT) announced a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.80 per share by the real estate investment trust on Thursday, October 17th. This represents a $3.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, September 27th.
Camden Property Trust has raised its dividend by an average of 3.5% annually over the last three years and has increased its dividend every year for the last 8 years. Camden Property Trust has a dividend payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Camden Property Trust to earn $5.35 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 59.8%.
Camden Property Trust stock traded down $0.93 during mid-day trading on Wednesday, reaching $109.79. 7,827 shares of the company were exchanged, compared to its average volume of 397,947. Camden Property Trust has a twelve month low of $83.67 and a twelve month high of $111.00. The firm’s 50-day simple moving average is $106.91 and its two-hundred day simple moving average is $103.97. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $10.44 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 3.10 and a beta of 0.43.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.84). Camden Property Trust had a return on equity of 4.48% and a net margin of 16.05%. The company had revenue of $255.76 million for the quarter, compared to analyst estimates of $252.76 million. During the same period in the previous year, the business posted $1.00 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Camden Property Trust will post 5.09 EPS for the current year.
A number of research firms have weighed in on CPT. Citigroup increased their price objective on Camden Property Trust from $100.00 to $109.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. SunTrust Banks increased their price objective on Camden Property Trust to $108.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Zelman & Associates raised Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Zacks Investment Research downgraded Camden Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, DA Davidson downgraded Camden Property Trust from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $105.92.
In other news, Director William B. Mcguire sold 1,979 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $104.12, for a total transaction of $206,053.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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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