Waterfall Asset Management LLC Makes New Investment in Camden Property Trust (NYSE:CPT)

Waterfall Asset Management LLC purchased a new position in shares of Camden Property Trust (NYSE:CPT) in the second quarter, Holdings Channel reports. The fund purchased 7,500 shares of the real estate investment trust’s stock, valued at approximately $818,000. Camden Property Trust comprises 0.6% of Waterfall Asset Management LLC’s holdings, making the stock its 18th largest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 during the period. CANADA LIFE ASSURANCE Co boosted its position in Camden Property Trust by 3.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 160,309 shares of the real estate investment trust’s stock worth $15,781,000 after acquiring an additional 5,926 shares during the period. Illinois Municipal Retirement Fund boosted its position in Camden Property Trust by 59.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 18,831 shares of the real estate investment trust’s stock worth $1,853,000 after acquiring an additional 7,018 shares during the period. Pinebridge Investments L.P. acquired a new position in Camden Property Trust during the 4th quarter worth $1,374,000. Finally, Eminence Capital LP acquired a new position in Camden Property Trust during the 4th quarter worth $18,737,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

Camden Property Trust Stock Down 1.1 %

NYSE:CPT opened at $125.21 on Friday. The firm has a market capitalization of $13.34 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 4.60 and a beta of 0.90. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $127.38. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.72. The business’s fifty day moving average price is $119.35 and its 200 day moving average price is $108.69.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($1.27). The business had revenue of $387.15 million for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $1.70 earnings per share. On average, sell-side analysts forecast that Camden Property Trust will post 6.77 earnings per share for the current fiscal year.

Camden Property Trust Dividend Announcement

The firm 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 3.29%. The ex-dividend date is Monday, September 30th. Camden Property Trust’s payout ratio is 100.98%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Evercore ISI boosted their price target on Camden Property Trust from $116.00 to $118.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Mizuho cut their price objective on Camden Property Trust from $111.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Wells Fargo & Company upgraded Camden Property Trust from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $104.00 to $127.00 in a report on Monday, August 26th. Piper Sandler upped their price objective on Camden Property Trust from $110.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Camden Property Trust from $90.00 to $115.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Camden Property Trust currently has a consensus rating of “Hold” and a consensus target price of $121.69.

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.