Camden Property Trust (NYSE:CPT) Price Target Cut to $120.00 by Analysts at Wells Fargo & Company

Camden Property Trust (NYSE:CPT) had its target price cut by Wells Fargo & Company from $127.00 to $120.00 in a research report released on Friday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on CPT. JPMorgan Chase & Co. downgraded Camden Property Trust from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $129.00 to $128.00 in a report on Tuesday, December 17th. StockNews.com downgraded shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Barclays reduced their price target on shares of Camden Property Trust from $138.00 to $126.00 and set an “overweight” rating on the stock in a report on Friday. Jefferies Financial Group started coverage on Camden Property Trust in a research note on Friday, October 11th. They set a “hold” rating and a $123.00 price objective on the stock. Finally, Stifel Nicolaus lowered shares of Camden Property Trust from a “buy” rating to a “hold” rating and increased their price objective for the stock from $120.00 to $121.00 in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $125.36.

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock opened at $110.62 on Friday. The business has a 50-day moving average of $117.32 and a 200 day moving average of $118.63. The stock has a market capitalization of $11.80 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 4.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.15. Camden Property Trust has a 12 month low of $90.50 and a 12 month high of $127.69.

Camden Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Wednesday, December 18th were issued a dividend of $1.03 per share. The ex-dividend date was Wednesday, December 18th. This represents a $4.12 annualized dividend and a yield of 3.72%. Camden Property Trust’s dividend payout ratio is currently 130.38%.

Insiders Place Their Bets

In related news, Director Heather J. Brunner sold 264 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $29,055.84. Following the sale, the director now directly owns 10,273 shares of the company’s stock, valued at approximately $1,130,646.38. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard J. Campo sold 1,043 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total value of $114,792.58. Following the transaction, the chief executive officer now directly owns 299,092 shares of the company’s stock, valued at approximately $32,918,065.52. This trade represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,413 shares of company stock worth $2,895,718. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Camden Property Trust

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its position in shares of Camden Property Trust by 0.5% in the 3rd quarter. State Street Corp now owns 7,118,930 shares of the real estate investment trust’s stock valued at $886,693,000 after buying an additional 36,528 shares in the last quarter. FMR LLC raised its position in Camden Property Trust by 14.5% during the 3rd quarter. FMR LLC now owns 3,297,370 shares of the real estate investment trust’s stock worth $407,324,000 after purchasing an additional 416,701 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Camden Property Trust by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,739,831 shares of the real estate investment trust’s stock valued at $337,394,000 after acquiring an additional 20,097 shares during the last quarter. Wellington Management Group LLP raised its stake in Camden Property Trust by 86.9% during the third quarter. Wellington Management Group LLP now owns 1,974,842 shares of the real estate investment trust’s stock worth $243,952,000 after buying an additional 918,078 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Camden Property Trust by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,498,742 shares of the real estate investment trust’s stock valued at $185,140,000 after purchasing an additional 51,742 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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.