Allspring Global Investments Holdings LLC Reduces Stake in Camden Property Trust (NYSE:CPT)

Allspring Global Investments Holdings LLC lowered its holdings in Camden Property Trust (NYSE:CPT) by 18.0% during the fourth quarter, HoldingsChannel reports. The fund owned 10,591 shares of the real estate investment trust’s stock after selling 2,324 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Camden Property Trust were worth $1,052,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust increased its holdings in shares of Camden Property Trust by 60.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 144 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Camden Property Trust in the 3rd quarter valued at about $69,000. Riverview Trust Co acquired a new stake in shares of Camden Property Trust in the 3rd quarter valued at about $74,000. Covestor Ltd boosted its position in shares of Camden Property Trust by 43.0% in the 3rd quarter. Covestor Ltd now owns 1,990 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 598 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Camden Property Trust in the 3rd quarter valued at about $204,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CPT shares. Barclays cut Camden Property Trust from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $138.00 to $100.00 in a research report on Tuesday, February 20th. Mizuho decreased their target price on Camden Property Trust from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Piper Sandler reissued an “underweight” rating and issued a $90.00 target price on shares of Camden Property Trust in a research report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on Camden Property Trust in a research report on Tuesday, January 30th. They set a “hold” rating and a $90.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $103.00 price objective on shares of Camden Property Trust in a research report on Monday, February 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $104.29.

Camden Property Trust Stock Up 0.6 %

CPT opened at $98.64 on Wednesday. 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 has a 50 day simple moving average of $97.00 and a 200-day simple moving average of $95.10. The stock has a market capitalization of $10.74 billion, a P/E ratio of 26.66, a P/E/G ratio of 3.61 and a beta of 0.83. Camden Property Trust has a 12 month low of $82.81 and a 12 month high of $114.04.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $387.59 million during the quarter, compared to the consensus estimate of $387.33 million. During the same period last year, the business posted $1.74 EPS. Camden Property Trust’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts anticipate that Camden Property Trust will post 6.72 earnings per share for the current fiscal year.

Camden Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 29th were paid a $1.03 dividend. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date was Wednesday, March 27th. Camden Property Trust’s dividend payout ratio (DPR) is presently 111.35%.

Camden Property Trust 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.