Camden Property Trust (NYSE:CPT – Get Free Report) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 1.06 per share by the real estate investment trust on Friday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, September 30th.
Camden Property Trust has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 4 years. Camden Property Trust has a payout ratio of 273.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Camden Property Trust to earn $6.90 per share next year, which means the company should continue to be able to cover its $4.24 annual dividend with an expected future payout ratio of 61.4%.
Camden Property Trust Stock Down 1.1%
Camden Property Trust stock opened at $102.69 on Wednesday. The firm has a market cap of $10.32 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 7.36 and a beta of 0.77. Camden Property Trust has a 52 week low of $96.53 and a 52 week high of $119.81. The business’s 50-day moving average price is $109.47 and its 200 day moving average price is $107.26. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.25.
Analyst Ratings Changes
Several equities analysts have recently weighed in on CPT shares. JPMorgan Chase & Co. lifted their target price on shares of Camden Property Trust from $113.00 to $114.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Scotiabank raised their price target on shares of Camden Property Trust from $102.00 to $109.00 and gave the company a “sector underperform” rating in a research report on Thursday, July 9th. Jefferies Financial Group upgraded shares of Camden Property Trust to a “hold” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company decreased their price objective on shares of Camden Property Trust from $113.00 to $110.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 1st. Finally, Stifel Nicolaus set a $123.25 target price on shares of Camden Property Trust in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $115.45.
View Our Latest Report on Camden Property Trust
Camden Property Trust Company Profile
Camden Property Trust (NYSE:CPT) is a real estate investment trust that owns, develops, acquires, and manages apartment communities. Its portfolio is focused primarily on multifamily housing, with properties offering a range of apartment floor plans and amenities designed for renters in urban and suburban markets.
The company serves residents across several major metropolitan areas in the U.S. Sun Belt, including markets in Texas, Colorado, Arizona, California, Georgia, North Carolina, Florida, and Tennessee.
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