Optas LLC Takes Position in Camden Property Trust (NYSE:CPT)

Optas LLC bought a new stake in Camden Property Trust (NYSE:CPT) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,653 shares of the real estate investment trust’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Camden Property Trust in the fourth quarter valued at about $187,606,000. Invesco Ltd. lifted its stake in shares of Camden Property Trust by 17.3% in the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust’s stock valued at $344,432,000 after purchasing an additional 438,685 shares during the period. GAMMA Investing LLC lifted its stake in shares of Camden Property Trust by 12,973.9% in the first quarter. GAMMA Investing LLC now owns 403,590 shares of the real estate investment trust’s stock valued at $49,359,000 after purchasing an additional 400,503 shares during the period. Northern Trust Corp lifted its stake in shares of Camden Property Trust by 33.7% in the fourth quarter. Northern Trust Corp now owns 1,420,076 shares of the real estate investment trust’s stock valued at $164,786,000 after purchasing an additional 357,718 shares during the period. Finally, Centersquare Investment Management LLC lifted its stake in shares of Camden Property Trust by 15.9% in the fourth quarter. Centersquare Investment Management LLC now owns 2,522,398 shares of the real estate investment trust’s stock valued at $292,699,000 after purchasing an additional 345,331 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CPT shares. Citigroup upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $125.00 to $138.00 in a research note on Friday, March 28th. Scotiabank dropped their target price on shares of Camden Property Trust from $144.00 to $136.00 and set a “sector perform” rating for the company in a report on Friday. Jefferies Financial Group upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $117.00 to $139.00 in a report on Monday, March 10th. Barclays raised their target price 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. Finally, Truist Financial set a $131.00 target price on shares of Camden Property Trust and gave the company a “buy” rating in a report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Camden Property Trust has an average rating of “Hold” and a consensus target price of $129.33.

Camden Property Trust Stock Performance

Shares of NYSE CPT opened at $116.12 on Tuesday. The company has a market cap of $12.41 billion, a PE ratio of 77.41, a price-to-earnings-growth ratio of 4.41 and a beta of 0.78. Camden Property Trust has a 12 month low of $102.35 and a 12 month high of $127.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.14 and a quick ratio of 0.15. The company has a 50-day simple moving average of $115.39 and a 200-day simple moving average of $116.70.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $388.47 million. During the same period in the previous year, the firm posted $1.70 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.62%. Camden Property Trust’s payout ratio is 385.32%.

Insider Activity at Camden Property Trust

In related news, CEO Richard J. Campo sold 5,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total value of $665,854.00. Following the completion of the sale, the chief executive officer now directly owns 289,720 shares in the company, valued at approximately $34,621,540. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Webster sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $118.76, for a total transaction of $142,512.00. Following the completion of the sale, the director now owns 117,374 shares of the company’s stock, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

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.