Louisiana State Employees Retirement System Purchases Shares of 6,500 Camden Property Trust (NYSE:CPT)

Louisiana State Employees Retirement System purchased a new stake in Camden Property Trust (NYSE:CPT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,500 shares of the real estate investment trust’s stock, valued at approximately $645,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its stake in Camden Property Trust by 60.8% in the third quarter. Parkside Financial Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 144 shares in the last quarter. Tobam grew its holdings in shares of Camden Property Trust by 4,166.7% during the fourth quarter. Tobam now owns 384 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 375 shares during the last quarter. Federated Hermes Inc. purchased a new position in Camden Property Trust during the third quarter worth about $69,000. Covestor Ltd boosted its holdings in Camden Property Trust by 43.0% during the third quarter. Covestor Ltd now owns 1,990 shares of the real estate investment trust’s stock worth $188,000 after purchasing an additional 598 shares during the last quarter. Finally, Klingman & Associates LLC purchased a new position in Camden Property Trust during the fourth quarter worth about $204,000. 97.22% of the stock is owned by institutional investors.

Camden Property Trust Stock Performance

NYSE CPT opened at $99.62 on Monday. The company’s 50 day moving average is $97.32 and its 200-day moving average is $95.16. Camden Property Trust has a 12-month low of $82.81 and a 12-month high of $114.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm has a market cap of $10.84 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 3.74 and a beta of 0.83.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share (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 for the quarter, compared to analyst estimates of $387.33 million. During the same quarter in the previous year, the firm posted $1.74 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Sell-side analysts predict that Camden Property Trust will post 6.72 earnings per share for the current year.

Camden Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 29th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.00. Camden Property Trust’s dividend payout ratio is 111.35%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Camden Property Trust in a report on Tuesday, January 30th. They set a “hold” rating and a $90.00 price target on the stock. Truist Financial boosted their price target on shares of Camden Property Trust from $113.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. StockNews.com cut shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. 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 target price on the stock. Finally, Mizuho dropped their target price on shares of Camden Property Trust from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Four 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $104.29.

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.