Bleakley Financial Group LLC acquired a new stake in Camden Property Trust (NYSE:CPT – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,613 shares of the real estate investment trust’s stock, valued at approximately $557,000.
Other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Camden Property Trust by 57.0% in the fourth quarter. Bessemer Group Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 94 shares during the period. Parkside Financial Bank & Trust raised its position in Camden Property Trust by 60.8% in the third quarter. Parkside Financial Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 144 shares during the period. Resurgent Financial Advisors LLC purchased a new position in Camden Property Trust in the fourth quarter valued at about $45,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Camden Property Trust by 100.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 445 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 223 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its stake in shares of Camden Property Trust by 175.5% during the first quarter. Belpointe Asset Management LLC now owns 449 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 286 shares in the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.
Camden Property Trust Stock Performance
CPT opened at $97.94 on Friday. The business’s 50 day moving average is $96.78 and its 200-day moving average is $95.00. The stock has a market cap of $10.66 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 3.75 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.74. Camden Property Trust has a twelve month low of $82.81 and a twelve month high of $114.04.
Camden Property Trust (NYSE:CPT – Get Free Report) last released its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.31. Camden Property Trust had a return on equity of 8.07% and a net margin of 26.15%. The company had revenue of $387.59 million for the quarter, compared to analysts’ expectations of $387.33 million. During the same quarter in the previous year, the company posted $1.74 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts predict that Camden Property Trust will post 6.73 earnings per share for the current year.
Camden Property Trust Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th will be given a $1.03 dividend. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $4.12 annualized dividend and a yield of 4.21%. Camden Property Trust’s payout ratio is 111.35%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on CPT. StockNews.com downgraded Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. Barclays downgraded Camden Property Trust from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $138.00 to $100.00 in a research note on Tuesday, February 20th. Truist Financial raised their target price on Camden Property Trust from $113.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft began coverage on Camden Property Trust in a research note on Tuesday, January 30th. They set a “hold” rating and a $90.00 target price for the company. Finally, The Goldman Sachs Group began coverage on Camden Property Trust in a research note on Thursday, February 22nd. They set a “buy” rating and a $112.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.29.
View Our Latest Stock Analysis on CPT
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 58,634 apartment homes across the United States.
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