Bank of America Corp DE Reduces Holdings in Camden Property Trust (NYSE:CPT)

Bank of America Corp DE decreased its holdings in Camden Property Trust (NYSE:CPT) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 425,860 shares of the real estate investment trust’s stock after selling 42,836 shares during the quarter. Bank of America Corp DE owned 0.40% of Camden Property Trust worth $49,417,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPT. Barclays PLC boosted its holdings in shares of Camden Property Trust by 45.4% in the third quarter. Barclays PLC now owns 407,784 shares of the real estate investment trust’s stock worth $50,371,000 after buying an additional 127,358 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Camden Property Trust by 5.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the real estate investment trust’s stock valued at $428,000 after purchasing an additional 198 shares in the last quarter. Czech National Bank lifted its holdings in Camden Property Trust by 6.5% during the fourth quarter. Czech National Bank now owns 23,131 shares of the real estate investment trust’s stock valued at $2,684,000 after purchasing an additional 1,409 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Camden Property Trust by 8.2% during the fourth quarter. Park Avenue Securities LLC now owns 4,501 shares of the real estate investment trust’s stock valued at $522,000 after purchasing an additional 340 shares in the last quarter. Finally, ERn Financial LLC lifted its holdings in Camden Property Trust by 4.2% during the fourth quarter. ERn Financial LLC now owns 6,456 shares of the real estate investment trust’s stock valued at $749,000 after purchasing an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Trading Down 1.3%

CPT stock opened at $115.70 on Thursday. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. Camden Property Trust has a twelve month low of $98.35 and a twelve month high of $127.69. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 77.13, a price-to-earnings-growth ratio of 4.41 and a beta of 0.79. The firm’s fifty day simple moving average is $116.11 and its two-hundred day simple moving average is $117.38.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. The business had revenue of $390.57 million for the quarter, compared to analysts’ expectations of $388.47 million. During the same quarter in the previous year, the business posted $1.70 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Camden Property Trust from $122.00 to $129.00 and gave the company a “buy” rating in a report on Monday, March 10th. Evercore ISI lifted their price target on shares of Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Jefferies Financial Group raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $117.00 to $139.00 in a report on Monday, March 10th. Stifel Nicolaus lifted their price target on shares of Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Barclays lifted their price target on shares of Camden Property Trust from $127.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Camden Property Trust has a consensus rating of “Hold” and a consensus price target of $129.83.

Insider Buying and Selling at Camden Property Trust

In other news, CEO Richard J. Campo sold 5,572 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total value of $665,854.00. Following the transaction, the chief executive officer now directly owns 289,720 shares in the company, valued at approximately $34,621,540. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

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.