Creative Planning Lowers Position in Camden Property Trust (NYSE:CPT)

Creative Planning reduced its stake in shares of Camden Property Trust (NYSE:CPT) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,559 shares of the real estate investment trust’s stock after selling 184 shares during the period. Creative Planning’s holdings in Camden Property Trust were worth $934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heitman Real Estate Securities LLC boosted its holdings in Camden Property Trust by 1.3% in the 4th quarter. Heitman Real Estate Securities LLC now owns 260,116 shares of the real estate investment trust’s stock worth $25,827,000 after buying an additional 3,237 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Camden Property Trust by 23.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,465,159 shares of the real estate investment trust’s stock valued at $145,478,000 after acquiring an additional 277,634 shares during the last quarter. Quarry LP grew its holdings in shares of Camden Property Trust by 1,081.5% in the fourth quarter. Quarry LP now owns 638 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 584 shares in the last quarter. Abel Hall LLC bought a new stake in Camden Property Trust in the fourth quarter worth $216,000. Finally, Vanguard Group Inc. raised its stake in Camden Property Trust by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 17,002,453 shares of the real estate investment trust’s stock valued at $1,688,174,000 after purchasing an additional 60,511 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CPT. Wedbush lifted their target price on Camden Property Trust from $118.00 to $131.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Piper Sandler boosted their price target on shares of Camden Property Trust from $110.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, August 26th. UBS Group increased their price objective on shares of Camden Property Trust from $109.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. The Goldman Sachs Group initiated coverage on Camden Property Trust in a report on Wednesday, September 4th. They set a “neutral” rating and a $139.00 target price for the company. Finally, Truist Financial boosted their price target on Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Camden Property Trust has an average rating of “Hold” and an average target price of $121.69.

Camden Property Trust Price Performance

Shares of CPT opened at $118.79 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.37 and a quick ratio of 0.37. The company’s fifty day moving average price is $122.21 and its 200-day moving average price is $110.94. The firm has a market capitalization of $12.66 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 4.76 and a beta of 0.90. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $127.69.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. The business had revenue of $387.15 million during the quarter, compared to analyst estimates of $384.76 million. During the same quarter in the previous year, the company earned $1.70 EPS. On average, equities research analysts predict that Camden Property Trust will post 6.77 EPS for the current year.

Camden Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.47%. The ex-dividend date is Monday, September 30th. Camden Property Trust’s dividend payout ratio is currently 100.98%.

Camden Property Trust Company Profile

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.