Camden Property Trust (NYSE:CPT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in Camden Property Trust (NYSE:CPT) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,381 shares of the real estate investment trust’s stock after selling 610 shares during the quarter. Retirement Systems of Alabama’s holdings in Camden Property Trust were worth $8,775,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPT. JPMorgan Chase & Co. grew its position in shares of Camden Property Trust by 41.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,044,988 shares of the real estate investment trust’s stock valued at $382,575,000 after acquiring an additional 1,187,974 shares during the period. Victory Capital Management Inc. boosted its position in 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 worth $340,399,000 after purchasing an additional 43,376 shares in the last quarter. Northern Trust Corp grew its holdings in Camden Property Trust by 2.7% in the third quarter. Northern Trust Corp now owns 1,320,699 shares of the real estate investment trust’s stock valued at $124,912,000 after purchasing an additional 35,270 shares during the period. Invesco Ltd. increased its position in shares of Camden Property Trust by 13.2% in the third quarter. Invesco Ltd. now owns 1,273,151 shares of the real estate investment trust’s stock valued at $120,415,000 after buying an additional 148,809 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Camden Property Trust by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 616,897 shares of the real estate investment trust’s stock worth $58,345,000 after buying an additional 5,118 shares during the period. 97.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CPT. Mizuho decreased their price objective on shares of Camden Property Trust from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Piper Sandler reiterated an “underweight” rating and issued a $90.00 price objective on shares of Camden Property Trust in a report on Tuesday, March 26th. StockNews.com upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley raised their target price on Camden Property Trust from $95.00 to $98.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Camden Property Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $90.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.29.

Camden Property Trust Price Performance

Shares of Camden Property Trust stock opened at $105.08 on Friday. The business’s fifty day moving average price is $97.89 and its 200 day moving average price is $95.33. The stock has a market capitalization of $11.44 billion, a P/E ratio of 28.40, a PEG ratio of 3.70 and a beta of 0.82. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.74. Camden Property Trust has a twelve month low of $82.81 and a twelve 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 EPS for the quarter, beating the consensus estimate of $1.72 by $0.31. The company had revenue of $387.59 million for the quarter, compared to analyst estimates of $387.33 million. Camden Property Trust had a return on equity of 8.07% and a net margin of 26.15%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $1.74 earnings per share. As a group, research analysts anticipate that Camden Property Trust will post 6.72 earnings per share for the current year.

About Camden Property Trust

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.