Sequoia Financial Advisors LLC Makes New Investment in Camden Property Trust (NYSE:CPT)

Sequoia Financial Advisors LLC purchased a new stake in shares of Camden Property Trust (NYSE:CPT) in the 4th quarter, Holdings Channel.com reports. The fund purchased 2,133 shares of the real estate investment trust’s stock, valued at approximately $212,000.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. increased its position in Camden Property Trust by 57.0% during the 4th 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 stake in Camden Property Trust by 60.8% during the third quarter. Parkside Financial Bank & Trust now owns 381 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 144 shares during the last quarter. Tobam raised its stake in Camden Property Trust by 4,166.7% during the fourth quarter. Tobam now owns 384 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 375 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in Camden Property Trust in the fourth quarter valued at $45,000. Finally, Belpointe Asset Management LLC grew its holdings in Camden Property Trust by 175.5% during the 1st quarter. Belpointe Asset Management LLC now owns 449 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 286 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CPT shares. Deutsche Bank Aktiengesellschaft assumed coverage on Camden Property Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $90.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $103.00 price target on shares of Camden Property Trust in a research note on Monday, February 5th. Piper Sandler reissued an “underweight” rating and set a $90.00 price objective on shares of Camden Property Trust in a research report on Tuesday, March 26th. The Goldman Sachs Group assumed coverage on Camden Property Trust in a research note on Thursday, February 22nd. They set a “buy” rating and a $112.00 price target on the stock. Finally, Truist Financial raised their price objective 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. Four 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $104.29.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $96.29 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a market cap of $10.48 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 3.58 and a beta of 0.83. The stock’s fifty day simple moving average is $96.92 and its two-hundred day simple moving average is $95.07. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $114.04.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.72 by $0.31. Camden Property Trust had a net margin of 26.15% and a return on equity of 8.07%. The company had revenue of $387.59 million during the quarter, compared to the consensus estimate of $387.33 million. During the same quarter in the prior year, the company posted $1.74 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, analysts forecast that Camden Property Trust will post 6.72 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th were given a dividend of $1.03 per share. The ex-dividend date was Wednesday, March 27th. This represents a $4.12 annualized dividend and a dividend yield of 4.28%. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.00. Camden Property Trust’s dividend payout ratio (DPR) is currently 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.