Camden Property Trust (NYSE:CPT) Declares Dividend Increase – $1.05 Per Share

Camden Property Trust (NYSE:CPT) declared a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Stockholders of record on Monday, March 31st will be paid a dividend of 1.05 per share by the real estate investment trust on Thursday, April 17th. This represents a $4.20 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Monday, March 31st. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03.

Camden Property Trust has raised its dividend payment by an average of 7.5% per year over the last three years. Camden Property Trust has a dividend payout ratio of 249.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Camden Property Trust to earn $7.10 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 58.0%.

Camden Property Trust Stock Performance

NYSE CPT opened at $119.33 on Friday. The stock has a fifty day simple moving average of $115.64 and a 200-day simple moving average of $118.85. The stock has a market cap of $12.73 billion, a PE ratio of 79.55, a P/E/G ratio of 4.27 and a beta of 0.94. Camden Property Trust has a twelve month low of $90.50 and a twelve month high of $127.69. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.72.

Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.32%. Equities analysts anticipate that Camden Property Trust will post 6.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

CPT has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $121.00 target price on shares of Camden Property Trust in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Barclays cut their target price on Camden Property Trust from $138.00 to $126.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Stifel Nicolaus upped their target price on Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Friday. Finally, Scotiabank cut their price target on 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. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $125.42.

Insider Buying and Selling at Camden Property Trust

In other Camden Property Trust news, Director Heather J. Brunner sold 264 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total value of $29,055.84. Following the completion of the transaction, the director now owns 10,273 shares in the company, valued at approximately $1,130,646.38. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alexander J. Jessett sold 13,067 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction of $1,496,171.50. Following the sale, the chief financial officer now owns 124,246 shares in the company, valued at $14,226,167. The trade was a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,413 shares of company stock valued at $2,895,718. 1.80% of the stock is owned by corporate insiders.

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.