Camden Property Trust (NYSE:CPT) declared a quarterly dividend on Friday, December 1st, RTT News reports. Stockholders of record on Friday, December 15th will be given a dividend of 0.75 per share by the real estate investment trust on Wednesday, January 17th. This represents a $3.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, December 14th.
Camden Property Trust has raised its dividend by an average of 6.4% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Camden Property Trust has a dividend payout ratio of 66.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Camden Property Trust to earn $4.78 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 62.8%.
Camden Property Trust (CPT) traded up $1.14 during trading on Wednesday, hitting $93.50. The stock had a trading volume of 566,300 shares, compared to its average volume of 607,706. The stock has a market cap of $8,559.48, a PE ratio of 20.52, a P/E/G ratio of 3.77 and a beta of 0.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.94 and a current ratio of 1.94. Camden Property Trust has a 12 month low of $78.38 and a 12 month high of $96.39.
Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, October 26th. The real estate investment trust reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.03). The business had revenue of $228.18 million for the quarter, compared to analysts’ expectations of $226.41 million. Camden Property Trust had a net margin of 16.81% and a return on equity of 4.71%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 earnings per share. equities analysts forecast that Camden Property Trust will post 4.53 EPS for the current year.
In other Camden Property Trust news, Chairman Richard J. Campo sold 379 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $94.44, for a total value of $35,792.76. Following the sale, the chairman now directly owns 338,519 shares in the company, valued at $31,969,734.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard J. Campo sold 52,247 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $92.27, for a total value of $4,820,830.69. Following the completion of the sale, the chairman now owns 344,201 shares in the company, valued at $31,759,426.27. The disclosure for this sale can be found here. Insiders have sold 121,394 shares of company stock worth $11,201,585 over the last 90 days. 4.70% of the stock is currently owned by company insiders.
Several research firms have recently commented on CPT. BMO Capital Markets reiterated a “buy” rating and set a $97.00 target price on shares of Camden Property Trust in a research note on Monday, November 27th. Mizuho restated a “hold” rating and set a $94.00 price objective on shares of Camden Property Trust in a research note on Monday, November 6th. SunTrust Banks restated a “hold” rating and set a $93.00 price objective on shares of Camden Property Trust in a research note on Wednesday, October 4th. Robert W. Baird restated a “neutral” rating and set a $96.00 price objective (up from $92.00) on shares of Camden Property Trust in a research note on Friday, September 22nd. Finally, KeyCorp raised their price objective on Camden Property Trust from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.53.
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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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