New York State Common Retirement Fund Sells 2,000 Shares of Camden Property Trust (NYSE:CPT)

New York State Common Retirement Fund reduced its stake in Camden Property Trust (NYSE:CPT) by 4.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,933 shares of the real estate investment trust’s stock after selling 2,000 shares during the period. New York State Common Retirement Fund’s holdings in Camden Property Trust were worth $5,495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bellwether Advisors LLC bought a new position in shares of Camden Property Trust in the 4th quarter worth $31,000. Tsfg LLC bought a new position in shares of Camden Property Trust in the 1st quarter worth $40,000. Allworth Financial LP raised its stake in Camden Property Trust by 47.4% during the 1st quarter. Allworth Financial LP now owns 491 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 158 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Camden Property Trust during the 1st quarter worth $64,000. Finally, Intact Investment Management Inc. acquired a new stake in Camden Property Trust during the 1st quarter worth $73,000. 97.22% of the stock is currently owned by institutional investors.

Insider Transactions at Camden Property Trust

In other news, Director Steven A. Webster sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the completion of the sale, the director owned 117,374 shares in the company, valued at $13,939,336.24. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard J. Campo sold 5,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total value of $665,854.00. Following the sale, the chief executive officer owned 289,720 shares of the company’s stock, valued at approximately $34,621,540. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CPT shares. UBS Group dropped their price objective on Camden Property Trust from $126.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 15th. Truist Financial set a $131.00 price objective on Camden Property Trust and gave the stock a “buy” rating in a research note on Monday, May 19th. Barclays set a $137.00 price objective on Camden Property Trust and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Citigroup raised Camden Property Trust from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $125.00 to $138.00 in a research note on Friday, March 28th. Finally, Mizuho dropped their price objective on Camden Property Trust from $130.00 to $122.00 and set an “outperform” rating on the stock in a research note on Friday, May 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Camden Property Trust presently has an average rating of “Hold” and an average target price of $129.28.

Camden Property Trust Price Performance

NYSE:CPT opened at $113.93 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.19 and a current ratio of 0.19. The stock’s 50-day simple moving average is $115.50 and its 200 day simple moving average is $115.99. The company has a market cap of $12.17 billion, a P/E ratio of 104.52, a P/E/G ratio of 3.78 and a beta of 0.77. Camden Property Trust has a 52-week low of $102.35 and a 52-week high of $127.69.

Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. Camden Property Trust had a return on equity of 2.47% and a net margin of 7.62%. The business had revenue of $390.57 million for the quarter, compared to the consensus estimate of $388.47 million. During the same quarter in the previous year, the business earned $1.70 earnings per share. Camden Property Trust’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Monday, June 30th. Camden Property Trust’s payout ratio is currently 385.32%.

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 58,250 apartment homes across the United States.