Acadian Asset Management LLC Reduces Stock Holdings in Camden Property Trust (NYSE:CPT)

Acadian Asset Management LLC lowered its stake in shares of Camden Property Trust (NYSE:CPT) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,550 shares of the real estate investment trust’s stock after selling 250 shares during the quarter. Acadian Asset Management LLC’s holdings in Camden Property Trust were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CPT. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Camden Property Trust by 16.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191,374 shares of the real estate investment trust’s stock worth $18,831,000 after acquiring an additional 27,465 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Camden Property Trust by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 160,309 shares of the real estate investment trust’s stock valued at $15,781,000 after purchasing an additional 5,926 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Camden Property Trust by 59.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 18,831 shares of the real estate investment trust’s stock valued at $1,853,000 after purchasing an additional 7,018 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of Camden Property Trust in the 4th quarter valued at about $1,374,000. Finally, Eminence Capital LP purchased a new position in Camden Property Trust during the 4th quarter worth approximately $18,737,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CPT shares. The Goldman Sachs Group started coverage on Camden Property Trust in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $139.00 price objective for the company. Scotiabank upped their price target on shares of Camden Property Trust from $125.00 to $132.00 and gave the company a “sector perform” rating in a research report on Monday. Truist Financial raised their price objective on shares of Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Wedbush upped their target price on shares of Camden Property Trust from $118.00 to $131.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, BNP Paribas initiated coverage on Camden Property Trust in a report on Wednesday, September 11th. They set a “neutral” rating and a $129.00 price target on the stock. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Camden Property Trust currently has an average rating of “Hold” and an average target price of $121.69.

Camden Property Trust Stock Performance

Shares of CPT opened at $125.25 on Thursday. The company has a market capitalization of $13.34 billion, a PE ratio of 30.70, a P/E/G ratio of 4.60 and a beta of 0.90. Camden Property Trust has a 52-week low of $82.81 and a 52-week high of $127.23. The company has a 50-day simple moving average of $118.67 and a 200-day simple moving average of $108.28. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.72.

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

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.12 dividend on an annualized basis and a yield of 3.29%. Camden Property Trust’s payout ratio is 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.