Camden Property Trust (NYSE:CPT) Shares Sold by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC lowered its holdings in Camden Property Trust (NYSE:CPT) by 55.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 24,537 shares of the real estate investment trust’s stock after selling 30,617 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Camden Property Trust were worth $2,847,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Inceptionr LLC acquired a new position in shares of Camden Property Trust in the 4th quarter worth approximately $621,000. Raymond James Financial Inc. acquired a new position in shares of Camden Property Trust in the 4th quarter worth approximately $17,616,000. Arizona State Retirement System boosted its holdings in shares of Camden Property Trust by 1.5% in the fourth quarter. Arizona State Retirement System now owns 30,972 shares of the real estate investment trust’s stock worth $3,594,000 after buying an additional 450 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Camden Property Trust in the fourth quarter worth about $13,263,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Camden Property Trust by 66.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 375,753 shares of the real estate investment trust’s stock worth $43,602,000 after buying an additional 150,491 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.

Insider Activity

In other news, Director Heather J. Brunner sold 264 shares of Camden Property Trust stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $29,055.84. Following the transaction, the director now owns 10,273 shares of the company’s stock, valued at $1,130,646.38. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alexander J. Jessett sold 1,862 shares of Camden Property Trust stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $204,931.72. Following the completion of the transaction, the chief financial officer now directly owns 122,384 shares in the company, valued at approximately $13,469,583.04. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,413 shares of company stock valued at $2,895,718 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CPT has been the subject of several recent analyst reports. StockNews.com upgraded shares of Camden Property Trust from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Barclays raised their target price on shares of Camden Property Trust from $126.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI raised their target price on shares of Camden Property Trust from $118.00 to $127.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Mizuho decreased their target price on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Camden Property Trust currently has an average rating of “Hold” and a consensus target price of $126.53.

Camden Property Trust Price Performance

Shares of CPT opened at $121.80 on Friday. The firm has a market cap of $13.00 billion, a PE ratio of 81.20, a PEG ratio of 4.41 and a beta of 0.94. The firm’s 50 day moving average price is $116.16 and its 200 day moving average price is $119.53. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. Camden Property Trust has a twelve month low of $94.75 and a twelve month high of $127.69.

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 for the quarter, beating the consensus estimate of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. As a group, research analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a $1.05 dividend. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, March 31st. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.45%. Camden Property Trust’s dividend payout ratio (DPR) is currently 280.00%.

About Camden Property Trust

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.