NuWave Investment Management LLC Acquires New Position in Camden Property Trust (NYSE:CPT)

NuWave Investment Management LLC acquired a new stake in Camden Property Trust (NYSE:CPTGet Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,369 shares of the real estate investment trust’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPT. Missouri Trust & Investment Co acquired a new stake in shares of Camden Property Trust in the fourth quarter valued at about $27,000. UMB Bank N A MO acquired a new stake in shares of Camden Property Trust in the fourth quarter valued at about $28,000. Ellevest Inc. lifted its stake in shares of Camden Property Trust by 361.5% in the fourth quarter. Ellevest Inc. now owns 180 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 141 shares during the period. CWM LLC acquired a new stake in shares of Camden Property Trust in the fourth quarter valued at about $33,000. Finally, Signaturefd LLC lifted its stake in shares of Camden Property Trust by 31.9% in the fourth quarter. Signaturefd LLC now owns 314 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 92.35% of the company’s stock.

CPT has been the subject of a number of research reports. The Goldman Sachs Group cut shares of Camden Property Trust from a “buy” rating to a “neutral” rating and cut their target price for the stock from $172.00 to $158.00 in a research report on Tuesday, May 17th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Camden Property Trust from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, March 24th. Barclays cut their target price on shares of Camden Property Trust from $193.00 to $174.00 in a research report on Tuesday, May 10th. StockNews.com initiated coverage on shares of Camden Property Trust in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Truist Financial cut their target price on shares of Camden Property Trust from $186.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Camden Property Trust has a consensus rating of “Moderate Buy” and a consensus price target of $173.25.

NYSE:CPT opened at $131.89 on Thursday. The firm has a 50 day simple moving average of $145.95 and a 200-day simple moving average of $159.89. The company has a debt-to-equity ratio of 0.86, a current ratio of 5.55 and a quick ratio of 5.55. The firm has a market cap of $14.05 billion, a PE ratio of 39.14, a P/E/G ratio of 3.67 and a beta of 0.78. Camden Property Trust has a 1-year low of $125.17 and a 1-year high of $180.37.

Camden Property Trust (NYSE:CPTGet Rating) last released its earnings results on Thursday, April 28th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($1.07). Camden Property Trust had a net margin of 29.75% and a return on equity of 8.67%. The company had revenue of $311.36 million during the quarter, compared to analysts’ expectations of $308.90 million. During the same quarter in the previous year, the firm posted $1.24 earnings per share. Camden Property Trust’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, sell-side analysts expect that Camden Property Trust will post 6.5 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $3.76 dividend on an annualized basis and a yield of 2.85%. Camden Property Trust’s payout ratio is 111.57%.

About Camden Property Trust (Get Rating)

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.

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Institutional Ownership by Quarter for Camden Property Trust (NYSE:CPT)

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