ABC Arbitrage SA Acquires Shares of 7,074 Camden Property Trust (NYSE:CPT)

ABC Arbitrage SA acquired a new stake in shares of Camden Property Trust (NYSE:CPT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,074 shares of the real estate investment trust’s stock, valued at approximately $821,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Camden Property Trust by 0.5% in the third quarter. State Street Corp now owns 7,118,930 shares of the real estate investment trust’s stock valued at $886,693,000 after buying an additional 36,528 shares during the last quarter. FMR LLC raised its holdings in shares of Camden Property Trust by 14.5% in the third quarter. FMR LLC now owns 3,297,370 shares of the real estate investment trust’s stock valued at $407,324,000 after buying an additional 416,701 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Camden Property Trust by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,739,831 shares of the real estate investment trust’s stock valued at $337,394,000 after buying an additional 20,097 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Camden Property Trust by 86.9% in the third quarter. Wellington Management Group LLP now owns 1,974,842 shares of the real estate investment trust’s stock valued at $243,952,000 after buying an additional 918,078 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Camden Property Trust by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,498,742 shares of the real estate investment trust’s stock valued at $185,140,000 after buying an additional 51,742 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays cut their price target on Camden Property Trust from $138.00 to $126.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Scotiabank lifted their price objective on Camden Property Trust from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Friday. JPMorgan Chase & Co. lowered Camden Property Trust from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $129.00 to $128.00 in a research report on Tuesday, December 17th. Wells Fargo & Company lowered their price objective on Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Finally, Mizuho lowered their price objective on Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $126.31.

Camden Property Trust Price Performance

Shares of CPT opened at $119.11 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.15 and a current ratio of 0.15. The stock has a 50 day simple moving average of $115.19 and a 200 day simple moving average of $119.17. Camden Property Trust has a 52-week low of $92.26 and a 52-week high of $127.69. The firm has a market capitalization of $12.71 billion, a PE ratio of 79.41, a P/E/G ratio of 4.27 and a beta of 0.94.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.05. Camden Property Trust had a return on equity of 3.32% and a net margin of 10.58%. Sell-side analysts predict that Camden Property Trust will post 6.8 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a $1.05 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. This represents a $4.20 annualized dividend and a dividend yield of 3.53%. Camden Property Trust’s payout ratio is currently 274.67%.

Insider Activity at Camden Property Trust

In other Camden Property Trust news, CEO Richard J. Campo sold 7,324 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $838,598.00. Following the sale, the chief executive officer now owns 300,135 shares in the company, valued at approximately $34,365,457.50. The trade was a 2.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alexander J. Jessett sold 13,067 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $1,496,171.50. Following the completion of the sale, the chief financial officer now owns 124,246 shares in the company, valued at $14,226,167. The trade was a 9.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,413 shares of company stock worth $2,895,718. 1.80% of the stock is owned by company insiders.

Camden Property Trust 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.