Envestnet Asset Management Inc. Trims Stake in Camden Property Trust $CPT

Envestnet Asset Management Inc. cut its position in Camden Property Trust (NYSE:CPT) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,582 shares of the real estate investment trust’s stock after selling 9,886 shares during the quarter. Envestnet Asset Management Inc. owned 0.19% of Camden Property Trust worth $22,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CPT. Oppenheimer Asset Management Inc. grew its stake in shares of Camden Property Trust by 10.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 16,159 shares of the real estate investment trust’s stock worth $1,821,000 after acquiring an additional 1,584 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Camden Property Trust during the 2nd quarter worth approximately $549,000. Brighton Jones LLC acquired a new stake in Camden Property Trust during the 2nd quarter worth approximately $226,000. Focus Partners Advisor Solutions LLC purchased a new position in Camden Property Trust during the second quarter worth about $270,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Camden Property Trust by 2.3% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 304,624 shares of the real estate investment trust’s stock worth $34,328,000 after acquiring an additional 6,864 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Stock Performance

CPT opened at $101.42 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.18 and a quick ratio of 0.18. The business has a 50 day moving average price of $105.70 and a two-hundred day moving average price of $110.86. Camden Property Trust has a 1-year low of $97.17 and a 1-year high of $127.65. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 70.92, a price-to-earnings-growth ratio of 3.31 and a beta of 0.80.

Camden Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 30th. Camden Property Trust’s payout ratio is currently 293.71%.

Analyst Upgrades and Downgrades

CPT has been the subject of several research reports. Morgan Stanley cut their price target on Camden Property Trust from $130.00 to $124.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. Cantor Fitzgerald started coverage on Camden Property Trust in a report on Wednesday, October 1st. They issued a “neutral” rating and a $115.00 price target for the company. UBS Group cut their price target on shares of 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. Wall Street Zen raised Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Stifel Nicolaus upgraded Camden Property Trust from a “hold” rating to a “buy” rating and set a $122.75 price objective on the stock in a research note on Tuesday, August 26th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $120.05.

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 58,250 apartment homes across the United States.