Camden Property Trust (NYSE:CPT) Downgraded by JPMorgan Chase & Co. to “Underweight”

JPMorgan Chase & Co. cut shares of Camden Property Trust (NYSE:CPT) from a neutral rating to an underweight rating in a research report released on Tuesday, Marketbeat reports. They currently have $128.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $129.00.

CPT has been the topic of a number of other reports. Truist Financial boosted their price target on Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 26th. Scotiabank cut their price objective on shares of Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Jefferies Financial Group assumed coverage on shares of Camden Property Trust in a report on Friday, October 11th. They set a “hold” rating and a $123.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Camden Property Trust from $90.00 to $115.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, StockNews.com downgraded shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Camden Property Trust has a consensus rating of “Hold” and a consensus price target of $125.81.

Camden Property Trust Stock Performance

Shares of CPT opened at $118.60 on Tuesday. The firm has a market cap of $12.65 billion, a P/E ratio of 37.53, a PEG ratio of 4.40 and a beta of 0.92. Camden Property Trust has a twelve month low of $90.50 and a twelve month high of $127.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.15 and a current ratio of 0.15. The firm’s 50 day moving average price is $120.62 and its two-hundred day moving average price is $117.64.

Camden Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Wednesday, December 18th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.47%. The ex-dividend date is Wednesday, December 18th. Camden Property Trust’s dividend payout ratio (DPR) is presently 130.38%.

Hedge Funds Weigh In On Camden Property Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPT. Verdence Capital Advisors LLC raised its position in Camden Property Trust by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,379 shares of the real estate investment trust’s stock worth $294,000 after purchasing an additional 113 shares during the last quarter. American Capital Advisory LLC raised its position in shares of Camden Property Trust by 42.7% during the third quarter. American Capital Advisory LLC now owns 428 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 128 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Camden Property Trust by 6.1% during the second quarter. Raymond James Trust N.A. now owns 2,516 shares of the real estate investment trust’s stock worth $275,000 after acquiring an additional 144 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Camden Property Trust by 0.5% in the second quarter. ProShare Advisors LLC now owns 31,349 shares of the real estate investment trust’s stock worth $3,420,000 after acquiring an additional 146 shares during the period. Finally, MML Investors Services LLC boosted its holdings in Camden Property Trust by 1.6% in the third quarter. MML Investors Services LLC now owns 9,294 shares of the real estate investment trust’s stock valued at $1,148,000 after acquiring an additional 147 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

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.