Camden Property Trust (NYSE:CPT – Get Free Report) declared a quarterly dividend on Friday, December 1st, RTT News reports. Stockholders of record on Friday, December 15th will be given a dividend of 1.00 per share by the real estate investment trust on Wednesday, January 17th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.32%.

Camden Property Trust has increased its dividend by an average of 5.5% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Camden Property Trust has a payout ratio of 212.8% indicating that 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 $7.00 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 57.1%.

Camden Property Trust Trading Up 2.6 %

Shares of NYSE CPT traded up $2.36 during mid-day trading on Friday, reaching $92.62. 795,407 shares of the company’s stock were exchanged, compared to its average volume of 833,423. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 44.29, a PEG ratio of 3.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.10 and a current ratio of 0.10. Camden Property Trust has a 52-week low of $82.81 and a 52-week high of $127.60. The company’s 50-day moving average is $91.34 and its 200-day moving average is $102.10.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CPT. Royal Bank of Canada lowered their target price on Camden Property Trust from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, October 30th. JPMorgan Chase & Co. increased their price target on Camden Property Trust from $131.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, August 21st. Mizuho reduced their price target on Camden Property Trust from $120.00 to $101.00 and set a “buy” rating on the stock in a research report on Tuesday, September 26th. Bank of America lowered Camden Property Trust from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $101.00 to $84.00 in a research report on Tuesday, October 31st. Finally, StockNews.com lowered Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 24th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Camden Property Trust has an average rating of “Hold” and an average target price of $112.69.

Get Our Latest Stock Analysis on Camden Property Trust

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Camden Property Trust in the 4th quarter valued at approximately $333,911,000. Long Pond Capital LP grew its stake in shares of Camden Property Trust by 149.0% in the 4th quarter. Long Pond Capital LP now owns 948,280 shares of the real estate investment trust’s stock valued at $106,094,000 after purchasing an additional 567,487 shares during the last quarter. State Street Corp grew its stake in shares of Camden Property Trust by 9.8% in the 1st quarter. State Street Corp now owns 6,066,515 shares of the real estate investment trust’s stock valued at $1,013,817,000 after purchasing an additional 540,683 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Camden Property Trust by 384.2% in the 1st quarter. Renaissance Technologies LLC now owns 587,800 shares of the real estate investment trust’s stock valued at $97,692,000 after purchasing an additional 466,400 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Camden Property Trust by 28.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,069,866 shares of the real estate investment trust’s stock valued at $344,011,000 after purchasing an additional 459,442 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About Camden Property Trust (Get Free Report)

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 58,961 apartment homes across the United States.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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Original: MarketBeat News Feed: Camden Property Trust (NYSE:CPT) Plans $1.00 Quarterly Dividend