Camden Property Trust (NYSE:CPT) has announced a quarterly dividend of $1.05 per share, to be distributed to shareholders on January 16, 2024. This announcement was made on December 3, 2023, and shareholders of record on December 17, 2023 will be eligible to receive this payment. The dividend reflects an annualized yield of 4.0%.
Over the past three years, Camden Property Trust has increased its dividend by an average of 0.1% annually. Notably, the company has successfully raised its dividend for four consecutive years. However, the firm’s current dividend payout ratio stands at a striking 271.0%, indicating that it relies on its balance sheet to meet dividend obligations rather than solely on earnings.
Analysts project that Camden Property Trust will earn $7.07 per share next year. This figure suggests that the company should be able to maintain its $4.20 annual dividend, resulting in an expected future payout ratio of 59.4%.
Market Performance and Institutional Investments
On the trading front, shares of Camden Property Trust opened at $105.61 on Thursday. The company’s market capitalization is approximately $11.24 billion, with a price-to-earnings (P/E) ratio of 42.76 and a price-to-earnings-growth (PEG) ratio of 3.52. The stock has shown a beta of 0.82, indicating lower volatility compared to the broader market.
In terms of debt management, Camden Property Trust has a debt-to-equity ratio of 0.81. The firm’s liquidity metrics include a quick ratio of 0.13 and a current ratio of 0.13. Over the past year, the stock has fluctuated, recording a low of $97.17 and a high of $126.55. The 50-day moving average price stands at $103.34, while the 200-day moving average price is $109.06.
Institutional investors have been adjusting their positions in Camden Property Trust recently. Highland Capital Management LLC increased its holdings by 17.3% in the second quarter, now owning 24,767 shares valued at $2,791,000 after acquiring an additional 3,660 shares. Similarly, Allspring Global Investments Holdings LLC raised its stake by 1.5%, owning 16,789 shares valued at $1,897,000 following a purchase of 253 shares.
Fifth Third Bancorp expanded its position by 3.0%, now holding 5,331 shares worth $601,000. QRG Capital Management Inc. increased its stake by 14.7%, owning 22,169 shares valued at $2,498,000. Yousif Capital Management LLC significantly boosted its position by 43.1%, acquiring an additional 7,141 shares to reach a total of 23,711 shares valued at $2,672,000. Overall, institutional and hedge fund investors own approximately 97.22% of Camden Property Trust’s stock.
About Camden Property Trust
Camden Property Trust, a member of the S&P 500, primarily focuses on the ownership, management, development, and construction of multifamily apartment communities. The company operates 172 properties, providing 58,250 apartment homes across the United States.
Investors and analysts are keeping a close watch on Camden Property Trust, considering its steady dividend history and recent institutional investment activity. As the company continues to navigate the complexities of the real estate market, future earnings and dividend sustainability will be key factors in its ongoing performance.
