Camden Property Trust $CPT Stock: Sumitomo Mitsui Trust Group Inc. Decreases Holdings

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Camden Property Trust (NYSE:CPT) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 103,201 shares of the real estate investment trust’s stock after selling 9,985 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Camden Property Trust were worth $9,983,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Camden Property Trust in the third quarter worth about $2,528,000. ProShare Advisors LLC raised its position in Camden Property Trust by 2.3% during the third quarter. ProShare Advisors LLC now owns 19,630 shares of the real estate investment trust’s stock valued at $1,899,000 after acquiring an additional 450 shares in the last quarter. MGO One Seven LLC lifted its holdings in Camden Property Trust by 6.6% in the third quarter. MGO One Seven LLC now owns 5,908 shares of the real estate investment trust’s stock valued at $571,000 after acquiring an additional 367 shares during the period. Americana Partners LLC lifted its holdings in Camden Property Trust by 7.7% in the third quarter. Americana Partners LLC now owns 3,379 shares of the real estate investment trust’s stock valued at $327,000 after acquiring an additional 242 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in Camden Property Trust by 20.8% in the third quarter. D.A. Davidson & CO. now owns 2,552 shares of the real estate investment trust’s stock valued at $247,000 after acquiring an additional 440 shares during the period. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Price Performance

Shares of Camden Property Trust stock traded down $3.88 on Friday, hitting $99.83. The company’s stock had a trading volume of 1,702,748 shares, compared to its average volume of 855,251. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 7.56 and a beta of 0.75. Camden Property Trust has a 1 year low of $95.30 and a 1 year high of $119.81. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a fifty day moving average price of $100.55 and a 200-day moving average price of $105.83.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $1.71 EPS for the quarter, beating 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 return on equity of 7.66% and a net margin of 20.80%. Camden Property Trust’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.70 earnings per share. As a group, sell-side analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were paid a $1.06 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.24 dividend on an annualized basis and a yield of 4.2%. Camden Property Trust’s dividend payout ratio (DPR) is currently 140.40%.

Key Stories Impacting Camden Property Trust

Here are the key news stories impacting Camden Property Trust this week:

• Positive Sentiment: Q3 funds from operations (FFO) were $1.71 per share, topping the $1.69 consensus and rising from $1.70 a year earlier. The company also cited improving leasing trends and lower property expenses. Camden Property’s Q3 FFO Beats Estimates as Leasing Trends Improve
• Neutral Sentiment: Camden forecast Q4 core FFO of $1.63–$1.67 per share; the available report did not provide a comparable analyst estimate to gauge whether the outlook is above or below expectations. Camden Property Trust Q4 Core FFO Guidance
• Negative Sentiment: Revenue was $381.06 million, below analysts’ $384.88 million estimate and down 3.7% year over year. Reports also flagged weakness in same-property NOI, tempering the FFO beat and raising concerns about operating momentum. Camden Property Q3 FFO Higher, Revenue Lower; Issues Guidance

Analyst Ratings Changes

CPT has been the topic of a number of analyst reports. Truist Financial dropped their price objective on shares of Camden Property Trust from $123.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. Weiss Ratings lowered shares of Camden Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Wells Fargo & Company decreased their target price on shares of Camden Property Trust from $110.00 to $103.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Stifel Nicolaus set a $123.25 price target on shares of Camden Property Trust in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $114.00 price target on shares of Camden Property Trust in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $111.62.

About Camden Property Trust

Camden Property Trust (NYSE:CPT) is a real estate investment trust that owns, develops, acquires, and manages multifamily apartment communities. The company provides rental housing to individuals and families through a portfolio of communities offering a range of apartment layouts, amenities, and resident services.

Camden focuses primarily on high-growth markets in the Sun Belt, including metropolitan areas in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, and Tennessee. Its communities are generally located in major urban and suburban markets and are managed through the company’s in-house property management platform.

Founded in 1993 and headquartered in Houston, Texas, Camden Property Trust has expanded through apartment development, acquisitions, and ongoing property renovations.