Camden Property Trust $CPT Stake Boosted by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in Camden Property Trust (NYSE:CPT) by 906.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792,717 shares of the real estate investment trust’s stock after buying an additional 713,933 shares during the period. Retirement Systems of Alabama’s holdings in Camden Property Trust were worth $76,680,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kings Path Partners LLC purchased a new stake in Camden Property Trust in the third quarter worth about $29,000. James T. Borello RIA grew its holdings in shares of Camden Property Trust by 76.3% during the 3rd quarter. James T. Borello RIA now owns 409 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 177 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Camden Property Trust during the 2nd quarter worth approximately $55,000. Western Wealth Management LLC purchased a new position in shares of Camden Property Trust during the 1st quarter worth approximately $55,000. Finally, Dynamic Wealth Strategies LLC bought a new position in shares of Camden Property Trust in the 3rd quarter worth approximately $66,000. 97.22% of the stock is owned by institutional investors.

Camden Property Trust Trading Up 0.7%

NYSE:CPT opened at $100.09 on Tuesday. Camden Property Trust has a one year low of $95.30 and a one year high of $119.81. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.18 and a quick ratio of 0.18. The company’s 50-day simple moving average is $100.42 and its 200 day simple moving average is $105.79. The firm has a market capitalization of $10.06 billion, a P/E ratio of 9.33, a PEG ratio of 7.77 and a beta of 0.75.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. Camden Property Trust had a net margin of 20.80% and a return on equity of 7.66%. The business had revenue of $381.06 million for the quarter, compared to analysts’ expectations of $384.88 million. During the same quarter in the prior year, the company earned $1.70 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. As a group, analysts forecast that Camden Property Trust will post 6.75 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Camden Property Trust’s payout ratio is currently 39.52%.

Analyst Ratings Changes

A number of research firms have recently commented on CPT. Mizuho lowered their target price on Camden Property Trust from $125.00 to $116.00 and set an “outperform” rating for the company in a research note on Tuesday, September 8th. Jefferies Financial Group raised Camden Property Trust to a “hold” rating in a research note on Wednesday, July 22nd. Morgan Stanley reduced their price target on Camden Property Trust from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $114.00 price objective on shares of Camden Property Trust in a report on Monday, July 20th. Finally, Royal Bank Of Canada lowered their price objective on Camden Property Trust from $111.00 to $101.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 13th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Camden Property Trust currently has a consensus rating of “Hold” and an average price target of $110.95.

Camden Property Trust Profile

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas.

Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.