CPT

Goldman Sachs Initiates Coverage of Camden Property Trust (CPT) with Buy Recommendation

Fintel reports that on February 22, 2024, Goldman Sachs initiated coverage of Camden Property Trust (NYSE:CPT) with a Buy recommendation.

Analyst Price Forecast Suggests 15.63% Upside

As of January 19, 2024, the average one-year price target for Camden Property Trust is 110.32. The forecasts range from a low of 90.90 to a high of $148.05. The average price target represents an increase of 15.63% from its latest reported closing price of 95.41.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Camden Property Trust is 1,653MM, an increase of 6.90%. The projected annual non-GAAP EPS is 1.75.

Camden Property Trust Declares $1.00 Dividend

On December 1, 2023 the company declared a regular quarterly dividend of $1.00 per share ($4.00 annualized). Shareholders of record as of December 15, 2023 received the payment on January 17, 2024. Previously, the company paid $1.00 per share.

At the current share price of $95.41 / share, the stock's dividend yield is 4.19%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.16%, the lowest has been 1.88%, and the highest has been 4.93%. The standard deviation of yields is 0.64 (n=234).

The current dividend yield is 1.61 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.24%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1153 funds or institutions reporting positions in Camden Property Trust. This is an increase of 29 owner(s) or 2.58% in the last quarter. Average portfolio weight of all funds dedicated to CPT is 0.36%, a decrease of 6.65%. Total shares owned by institutions decreased in the last three months by 1.03% to 119,858K shares. CPT / Camden Property Trust Put/Call Ratios The put/call ratio of CPT is 1.11, indicating a bearish outlook.

What are Other Shareholders Doing?

CPT / Camden Property Trust Shares Held by Institutions

Cohen & Steers holds 7,656K shares representing 7.17% ownership of the company. In it's prior filing, the firm reported owning 12,181K shares, representing a decrease of 59.09%. The firm decreased its portfolio allocation in CPT by 41.92% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 4,402K shares representing 4.12% ownership of the company. In it's prior filing, the firm reported owning 4,495K shares, representing a decrease of 2.11%. The firm decreased its portfolio allocation in CPT by 9.51% over the last quarter.

Norges Bank holds 3,796K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Victory Capital Management holds 3,686K shares representing 3.45% ownership of the company. In it's prior filing, the firm reported owning 3,599K shares, representing an increase of 2.37%. The firm decreased its portfolio allocation in CPT by 38.41% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,326K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 3,323K shares, representing an increase of 0.11%. The firm decreased its portfolio allocation in CPT by 9.73% over the last quarter.

Camden Property Trust Background Information
(This description is provided by the company.)

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States. Upon completion of 7 properties currently under development, the Company's portfolio will increase to 59,104 apartment homes in 174 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 13 consecutive years, most recently ranking #18. The Company also received a Glassdoor Employees' Choice Award in 2020, ranking #25 for large U.S. companies.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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