HighTower Advisors LLC Increases Stake in Camden Property Trust (NYSE:CPT)

HighTower Advisors LLC raised its position in Camden Property Trust (NYSE:CPTGet Rating) by 63.0% during the first quarter, HoldingsChannel reports. The firm owned 16,497 shares of the real estate investment trust’s stock after purchasing an additional 6,375 shares during the period. HighTower Advisors LLC’s holdings in Camden Property Trust were worth $2,740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC purchased a new position in Camden Property Trust in the 1st quarter valued at $316,000. Cambridge Investment Research Advisors Inc. purchased a new position in Camden Property Trust in the 1st quarter valued at $961,000. King Luther Capital Management Corp purchased a new position in Camden Property Trust in the 1st quarter valued at $542,000. Veritable L.P. raised its holdings in shares of Camden Property Trust by 5.3% during the 1st quarter. Veritable L.P. now owns 1,577 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 79 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Camden Property Trust by 1.1% during the 1st quarter. US Bancorp DE now owns 11,639 shares of the real estate investment trust’s stock worth $1,934,000 after acquiring an additional 122 shares during the period. Hedge funds and other institutional investors own 94.08% of the company’s stock.

Wall Street Analysts Forecast Growth

CPT has been the topic of several analyst reports. Mizuho reduced their price target on Camden Property Trust from $170.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, June 27th. Robert W. Baird reduced their price target on Camden Property Trust from $175.00 to $153.00 and set an “outperform” rating on the stock in a report on Friday, June 24th. The Goldman Sachs Group lifted their price target on Camden Property Trust from $143.00 to $158.00 and gave the stock a “neutral” rating in a report on Tuesday, August 16th. Royal Bank of Canada lifted their price target on Camden Property Trust from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, August 1st. Finally, Citigroup lifted their price target on Camden Property Trust to $150.00 in a report on Tuesday, August 9th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.00.

Camden Property Trust Stock Down 1.9 %

Shares of NYSE:CPT opened at $126.69 on Tuesday. The business has a 50-day moving average price of $136.69 and a 200 day moving average price of $148.98. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $13.50 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 3.48 and a beta of 0.78. Camden Property Trust has a 12-month low of $125.17 and a 12-month high of $180.37.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.97%. The ex-dividend date was Wednesday, June 29th. Camden Property Trust’s dividend payout ratio is currently 49.41%.

Camden Property Trust Profile

(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.

Further Reading

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

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