Camden Property Trust $CPT Stock: New York Life Investment Management LLC Boosts Holdings

New York Life Investment Management LLC lifted its holdings in shares of Camden Property Trust (NYSE:CPT) by 487.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 159,876 shares of the real estate investment trust’s stock after buying an additional 132,675 shares during the period. New York Life Investment Management LLC’s holdings in Camden Property Trust were worth $15,465,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Maverick Capital Ltd. increased its position in shares of Camden Property Trust by 1.6% in the first quarter. Maverick Capital Ltd. now owns 1,867,866 shares of the real estate investment trust’s stock valued at $182,416,000 after acquiring an additional 30,076 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Camden Property Trust by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,598,671 shares of the real estate investment trust’s stock worth $156,128,000 after acquiring an additional 37,456 shares in the last quarter. Jennison Associates LLC raised its holdings in Camden Property Trust by 100.2% during the first quarter. Jennison Associates LLC now owns 1,206,854 shares of the real estate investment trust’s stock worth $117,861,000 after acquiring an additional 603,997 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Camden Property Trust by 906.2% during the third quarter. Retirement Systems of Alabama now owns 792,717 shares of the real estate investment trust’s stock worth $76,680,000 after acquiring an additional 713,933 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Camden Property Trust by 945.3% during the third quarter. State of Alaska Department of Revenue now owns 616,861 shares of the real estate investment trust’s stock worth $59,669,000 after acquiring an additional 557,850 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Mizuho reduced their price target on Camden Property Trust from $125.00 to $116.00 and set an “outperform” rating for the company in a research report on Tuesday, September 8th. Barclays lowered their price target on Camden Property Trust from $123.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 14th. UBS Group boosted their price target on Camden Property Trust from $101.00 to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday. Cantor Fitzgerald dropped their price objective on Camden Property Trust from $111.00 to $101.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company cut their price objective on Camden Property Trust from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Camden Property Trust currently has an average rating of “Hold” and an average price target of $108.73.

Camden Property Trust Stock Performance

Shares of CPT opened at $99.04 on Thursday. The firm has a 50-day moving average of $100.16 and a 200-day moving average of $105.72. Camden Property Trust has a one year low of $95.30 and a one year high of $119.81. The company has a market cap of $9.91 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 10.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.82 and a quick ratio of 0.18.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.02. The company had revenue of $381.06 million for the quarter, compared to analyst estimates of $384.88 million. Camden Property Trust had a net margin of 71.94% and a return on equity of 26.22%. Camden Property Trust’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.70 EPS. As a group, equities analysts forecast that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were issued a dividend of $1.06 per share. The ex-dividend date was Wednesday, September 30th. This represents a $4.24 dividend on an annualized basis and a yield of 4.3%. Camden Property Trust’s dividend payout ratio (DPR) is presently 39.52%.

Camden Property Trust Profile

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas. Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.