Camden Property Trust (NYSE:CPT) announced a quarterly dividend on Monday, December 3rd, RTT News reports. Shareholders of record on Monday, December 17th will be paid a dividend of 0.77 per share by the real estate investment trust on Thursday, January 17th. This represents a $3.08 annualized dividend and a yield of 3.25%.
Camden Property Trust has raised its dividend payment by an average of 4.8% annually over the last three years and has raised its dividend every year for the last 7 years. Camden Property Trust has a payout ratio of 64.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Camden Property Trust to earn $5.06 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 60.9%.
Camden Property Trust stock traded down $0.43 during midday trading on Monday, hitting $94.73. The company’s stock had a trading volume of 799,800 shares, compared to its average volume of 554,349. Camden Property Trust has a 1-year low of $78.19 and a 1-year high of $95.67. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 3.03 and a beta of 0.36.
In related news, insider Michael P. Gallagher sold 1,841 shares of Camden Property Trust stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $94.38, for a total transaction of $173,753.58. Following the sale, the insider now directly owns 24,783 shares of the company’s stock, valued at approximately $2,339,019.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William B. Mcguire sold 2,190 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $92.60, for a total transaction of $202,794.00. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
CPT has been the subject of several analyst reports. Zacks Investment Research cut shares of Camden Property Trust from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Citigroup raised their target price on shares of Camden Property Trust from $91.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 8th. SunTrust Banks raised their target price on shares of Camden Property Trust to $95.00 and gave the company an “average” rating in a report on Tuesday, August 14th. They noted that the move was a valuation call. Royal Bank of Canada raised their target price on shares of Camden Property Trust to $97.00 and gave the company an “outperform” rating in a report on Tuesday, August 14th. Finally, Deutsche Bank raised their target price on shares of Camden Property Trust from $92.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, September 5th. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Camden Property Trust currently has an average rating of “Buy” and an average price target of $95.29.
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About Camden Property Trust
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 159 properties containing 54,480 apartment homes across the United States.
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