Allianz Asset Management GmbH decreased its stake in shares of Camden Property Trust (NYSE:CPT) by 20.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,724 shares of the real estate investment trust’s stock after selling 48,037 shares during the period. Allianz Asset Management GmbH owned 0.20% of Camden Property Trust worth $17,472,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its stake in Camden Property Trust by 5.9% during the second quarter. Crossmark Global Holdings Inc. now owns 11,295 shares of the real estate investment trust’s stock worth $1,029,000 after acquiring an additional 630 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Camden Property Trust by 4.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 406,981 shares of the real estate investment trust’s stock worth $37,088,000 after acquiring an additional 18,569 shares during the last quarter. Wells Fargo & Company MN increased its stake in Camden Property Trust by 13.7% during the second quarter. Wells Fargo & Company MN now owns 365,592 shares of the real estate investment trust’s stock worth $33,317,000 after acquiring an additional 43,980 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Camden Property Trust during the second quarter valued at approximately $1,358,000. Finally, Victory Capital Management Inc. grew its stake in shares of Camden Property Trust by 15.9% during the second quarter. Victory Capital Management Inc. now owns 221,738 shares of the real estate investment trust’s stock valued at $20,207,000 after buying an additional 30,377 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.
In related news, Director William B. Mcguire sold 2,190 shares of the stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $92.60, for a total value of $202,794.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard J. Campo sold 63,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $94.69, for a total value of $5,965,470.00. Following the completion of the transaction, the chief executive officer now directly owns 230,393 shares in the company, valued at approximately $21,815,913.17. The disclosure for this sale can be found here. In the last three months, insiders sold 94,505 shares of company stock worth $8,947,652. 4.70% of the stock is owned by insiders.
CPT has been the topic of a number of analyst reports. Capital One Financial initiated coverage on Camden Property Trust in a research note on Monday, October 22nd. They set an “equal weight” rating and a $96.00 target price on the stock. ValuEngine raised Camden Property Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Barclays reaffirmed a “hold” rating and set a $87.00 target price on shares of Camden Property Trust in a research note on Sunday, October 14th. Zacks Investment Research cut Camden Property Trust from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Finally, Robert W. Baird raised Camden Property Trust from a “neutral” rating to an “outperform” rating and set a $100.00 target price on the stock in a research note on Tuesday, November 20th. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $95.29.
CPT opened at $92.93 on Friday. The company has a market cap of $8.64 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 2.95 and a beta of 0.36. Camden Property Trust has a one year low of $78.19 and a one year high of $95.67. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.66.
Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.79). Camden Property Trust had a return on equity of 5.94% and a net margin of 21.81%. The firm had revenue of $241.77 million during the quarter, compared to the consensus estimate of $238.79 million. As a group, equities research analysts predict that Camden Property Trust will post 4.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Monday, December 17th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $3.08 annualized dividend and a yield of 3.31%. Camden Property Trust’s dividend payout ratio (DPR) is currently 67.99%.
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Camden Property Trust Profile
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 159 properties containing 54,480 apartment homes across the United States.
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