Cerity Partners LLC Takes $6.97 Million Position in Camden Property Trust (NYSE:CPT)

Cerity Partners LLC purchased a new position in Camden Property Trust (NYSE:CPT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,154 shares of the real estate investment trust’s stock, valued at approximately $6,966,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Camden Property Trust by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 14,955,322 shares of the real estate investment trust’s stock valued at $2,485,575,000 after buying an additional 412,019 shares in the last quarter. BlackRock Inc. boosted its stake in Camden Property Trust by 1.6% during the first quarter. BlackRock Inc. now owns 9,961,282 shares of the real estate investment trust’s stock worth $1,044,341,000 after acquiring an additional 157,326 shares in the last quarter. State Street Corp grew its holdings in Camden Property Trust by 0.7% in the first quarter. State Street Corp now owns 6,890,494 shares of the real estate investment trust’s stock worth $729,147,000 after purchasing an additional 45,705 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Camden Property Trust by 41.6% during the third quarter. JPMorgan Chase & Co. now owns 4,044,988 shares of the real estate investment trust’s stock valued at $382,575,000 after purchasing an additional 1,187,974 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Camden Property Trust by 1.2% during the third quarter. Victory Capital Management Inc. now owns 3,599,058 shares of the real estate investment trust’s stock valued at $340,399,000 after purchasing an additional 43,376 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. 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 reduced their price target for the company from $138.00 to $100.00 in a report on Tuesday, February 20th. The Goldman Sachs Group began coverage on shares of Camden Property Trust in a research note on Thursday, February 22nd. They issued a “buy” rating and a $112.00 price target on the stock. Morgan Stanley raised their price objective on shares of Camden Property Trust from $95.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Mizuho decreased their target price on shares of Camden Property Trust from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $104.29.

Camden Property Trust Price Performance

NYSE CPT opened at $96.62 on Tuesday. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 3.67 and a beta of 0.83. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $114.04. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.88. The business’s fifty day moving average price is $96.83 and its 200-day moving average price is $95.02.

Camden Property Trust (NYSE:CPT) last posted its 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 the consensus estimate of $387.33 million. During the same quarter in the prior year, the company earned $1.74 earnings per share. Camden Property Trust’s revenue was up 3.1% on a year-over-year basis. On average, equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Friday, March 29th will be given a dividend of $1.03 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 4.26%. Camden Property Trust’s payout ratio is presently 111.35%.

Camden Property Trust Company Profile

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.