Camden Property Trust (NYSE:CPT) Upgraded by Bank of America to Buy

Bank of America upgraded shares of Camden Property Trust (NYSE:CPT) from an underperform rating to a buy rating in a research report released on Monday, Marketbeat Ratings reports. Bank of America currently has $147.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $111.00.

CPT has been the subject of a number of other reports. Wedbush increased their price target on Camden Property Trust from $118.00 to $131.00 and gave the stock an outperform rating in a report on Monday, August 5th. StockNews.com upgraded Camden Property Trust from a sell rating to a hold rating in a research note on Tuesday, April 30th. Piper Sandler upgraded Camden Property Trust from an underweight rating to a neutral rating and boosted their target price for the stock from $90.00 to $110.00 in a research note on Monday, May 6th. Scotiabank increased their price target on shares of Camden Property Trust from $108.00 to $116.00 and gave the company a sector perform rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their price objective on Camden Property Trust from $114.00 to $122.00 and gave the stock an outperform rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $113.03.

Camden Property Trust Price Performance

NYSE:CPT opened at $119.80 on Monday. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $121.29. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $12.76 billion, a PE ratio of 29.53, a P/E/G ratio of 4.50 and a beta of 0.88. The firm has a fifty day simple moving average of $111.36 and a 200 day simple moving average of $103.32.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.95% and a net margin of 25.64%. The business had revenue of $387.15 million for the quarter, compared to analyst estimates of $384.76 million. During the same quarter in the previous year, the company earned $1.70 EPS. On average, research analysts expect that Camden Property Trust will post 6.73 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $4.12 annualized dividend and a yield of 3.44%. Camden Property Trust’s payout ratio is currently 100.98%.

Institutional Investors Weigh In On Camden Property Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its position in Camden Property Trust by 90.4% during the 1st quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 132 shares during the period. Kings Path Partners LLC purchased a new stake in Camden Property Trust in the 2nd quarter worth approximately $33,000. Federated Hermes Inc. acquired a new stake in Camden Property Trust during the second quarter valued at $33,000. Family Firm Inc. acquired a new stake in shares of Camden Property Trust during the 2nd quarter valued at about $39,000. Finally, Versant Capital Management Inc grew its holdings in Camden Property Trust by 2,187.5% in the second quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 350 shares during the period. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

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 58,634 apartment homes across the United States.