Camden Property Trust (CPT) To Go Ex-Dividend on September 30th

Camden Property Trust (NYSE:CPT) declared a quarterly dividend on Monday, September 16th, Zacks reports. Stockholders of record on Monday, September 30th will be paid a dividend of 1.03 per share by the real estate investment trust on Thursday, October 17th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, September 30th.

Camden Property Trust has raised its dividend payment by an average of 6.4% per year over the last three years. Camden Property Trust has a payout ratio of 272.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Camden Property Trust to earn $6.94 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 59.4%.

Camden Property Trust Trading Up 0.6 %

CPT traded up $0.69 during trading hours on Wednesday, reaching $124.68. 189,502 shares of the company’s stock traded hands, compared to its average volume of 993,237. The firm has a 50-day moving average price of $118.35 and a 200 day moving average price of $108.16. Camden Property Trust has a 52-week low of $82.81 and a 52-week high of $127.23. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $13.28 billion, a PE ratio of 30.61, a PEG ratio of 4.60 and a beta of 0.90.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data 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 net margin of 25.64% and a return on equity of 7.98%. The business had revenue of $387.15 million for the quarter, compared to analysts’ expectations of $384.76 million. During the same quarter in the previous year, the firm earned $1.70 EPS. As a group, sell-side analysts predict that Camden Property Trust will post 6.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CPT. Mizuho dropped their price objective on Camden Property Trust from $111.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, May 30th. BNP Paribas assumed coverage on Camden Property Trust in a research report on Wednesday, September 11th. They set a “neutral” rating and a $129.00 target price for the company. Evercore ISI lifted their target price on Camden Property Trust from $116.00 to $118.00 and gave the company an “in-line” rating in a research report on Monday. Bank of America raised Camden Property Trust from an “underperform” rating to a “buy” rating and lifted their target price for the company from $111.00 to $147.00 in a research report on Monday, August 12th. Finally, Royal Bank of Canada lowered Camden Property Trust from an “outperform” rating to a “sector perform” rating and set a $122.00 target price for the company. in a research report on Monday, September 9th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $121.69.

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 58,250 apartment homes across the United States.