Camden Property Trust (CPT) Raised to Buy at Goldman Sachs Group Inc

Camden Property Trust (NYSE:CPT) was upgraded by equities researchers at Goldman Sachs Group Inc from a “neutral” rating to a “buy” rating in a research report issued on Friday. The firm currently has a $94.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $84.00. Goldman Sachs Group Inc’s target price indicates a potential upside of 18.90% from the stock’s current price.

Several other equities analysts also recently weighed in on CPT. Barclays PLC restated a “hold” rating and set a $84.00 target price on shares of Camden Property Trust in a report on Friday, February 17th. BMO Capital Markets restated a “hold” rating and set a $81.00 target price on shares of Camden Property Trust in a report on Friday, February 17th. Zacks Investment Research downgraded shares of Camden Property Trust from a “hold” rating to a “sell” rating in a report on Thursday, February 16th. Mitsubishi UFJ Financial Group upgraded shares of Camden Property Trust from an “underweight” rating to a “neutral” rating and raised their target price for the company from $72.00 to $80.00 in a report on Thursday, January 5th. Finally, KeyCorp downgraded shares of Camden Property Trust to an “overweight” rating in a report on Wednesday, December 21st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $86.83.

Analyst Recommendations for Camden Property Trust (NYSE:CPT)

Camden Property Trust (NYSE:CPT) opened at 79.06 on Friday. Camden Property Trust has a one year low of $75.36 and a one year high of $90.91. The firm has a market cap of $6.92 billion, a P/E ratio of 8.74 and a beta of 0.39. The firm’s 50-day moving average price is $82.62 and its 200 day moving average price is $82.10.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Tuesday, February 7th. The real estate investment trust reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.01. Camden Property Trust had a net margin of 93.54% and a return on equity of 14.23%. The firm earned $217.14 million during the quarter, compared to analysts’ expectations of $218.54 million. During the same quarter last year, the business earned $1.20 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Camden Property Trust will post $1.81 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.79%. Camden Property Trust’s dividend payout ratio (DPR) is presently 33.19%.

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In other news, Director Lewis A. Levey sold 2,931 shares of Camden Property Trust stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $85.46, for a total transaction of $250,483.26. Following the completion of the sale, the director now directly owns 9,721 shares in the company, valued at $830,756.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William W. Sengelmann sold 16,118 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $84.79, for a total transaction of $1,366,645.22. Following the completion of the sale, the executive vice president now owns 72,294 shares of the company’s stock, valued at $6,129,808.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,589 shares of company stock valued at $1,748,367. Insiders own 5.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Usca Ria LLC increased its stake in Camden Property Trust by 136.1% in the second quarter. Usca Ria LLC now owns 6,050 shares of the real estate investment trust’s stock worth $535,000 after buying an additional 3,488 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Camden Property Trust by 3.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 86,277 shares of the real estate investment trust’s stock worth $7,629,000 after buying an additional 2,881 shares during the last quarter. Legal & General Group Plc increased its stake in Camden Property Trust by 11.5% in the second quarter. Legal & General Group Plc now owns 305,726 shares of the real estate investment trust’s stock worth $27,024,000 after buying an additional 31,589 shares during the last quarter. Amalgamated Bank increased its stake in Camden Property Trust by 10.8% in the second quarter. Amalgamated Bank now owns 11,631 shares of the real estate investment trust’s stock worth $1,000,000 after buying an additional 1,132 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Camden Property Trust by 11.5% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 26,404 shares of the real estate investment trust’s stock worth $2,335,000 after buying an additional 2,725 shares during the last quarter.

About Camden Property Trust

Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. As of December 31, 2016, the Company owned interests in, operated, or were developing 159 multifamily properties, which consisted of 55,366 apartment homes across the United States.

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