Pendal Group Ltd cut its position in Camden Property Trust (NYSE:CPT) by 9.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,300 shares of the real estate investment trust’s stock after selling 1,800 shares during the quarter. Pendal Group Ltd’s holdings in Camden Property Trust were worth $1,525,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in CPT. Centersquare Investment Management LLC raised its holdings in Camden Property Trust by 13.0% in the second quarter. Centersquare Investment Management LLC now owns 2,481,175 shares of the real estate investment trust’s stock worth $226,110,000 after purchasing an additional 285,268 shares in the last quarter. Voya Investment Management LLC raised its holdings in Camden Property Trust by 1,134.5% in the second quarter. Voya Investment Management LLC now owns 301,756 shares of the real estate investment trust’s stock worth $27,499,000 after purchasing an additional 277,313 shares in the last quarter. Standard Life Aberdeen plc bought a new position in Camden Property Trust in the second quarter worth about $21,565,000. Allianz Asset Management GmbH raised its holdings in Camden Property Trust by 618.9% in the first quarter. Allianz Asset Management GmbH now owns 235,048 shares of the real estate investment trust’s stock worth $19,786,000 after purchasing an additional 202,354 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Camden Property Trust by 78.4% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 249,000 shares of the real estate investment trust’s stock worth $22,691,000 after purchasing an additional 109,400 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.
CPT has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Camden Property Trust from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Barclays reiterated a “hold” rating and issued a $87.00 target price on shares of Camden Property Trust in a report on Sunday, October 14th. Capital One Financial started coverage on shares of Camden Property Trust in a report on Monday, October 22nd. They issued an “equal weight” rating and a $96.00 target price for the company. ValuEngine upgraded Camden Property Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Finally, Scotiabank started coverage on Camden Property Trust in a research note on Tuesday, October 16th. They set a “sector perform” rating on the stock. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $94.59.
In related news, CFO Alexander J. Jessett sold 9,674 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $94.61, for a total value of $915,257.14. Following the sale, the chief financial officer now owns 58,012 shares in the company, valued at $5,488,515.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William W. Sengelmann sold 31,895 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $94.42, for a total value of $3,011,525.90. Following the completion of the sale, the executive vice president now owns 78,276 shares in the company, valued at approximately $7,390,819.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 247,921 shares of company stock worth $23,290,722. 4.70% of the stock is owned by insiders.
Shares of CPT stock opened at $92.54 on Friday. Camden Property Trust has a fifty-two week low of $78.19 and a fifty-two week high of $95.67. The stock has a market cap of $8.60 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.94 and a beta of 0.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.20 and a current ratio of 0.20.
Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $241.77 million for the quarter, compared to analysts’ expectations of $238.79 million. Sell-side analysts predict that Camden Property Trust will post 4.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. Camden Property Trust’s payout ratio is 67.99%.
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 158 properties containing 54,181 apartment homes across the United States.
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