First Trust Advisors LP Boosts Position in Camden Property Trust (CPT)

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First Trust Advisors LP increased its position in shares of Camden Property Trust (NYSE:CPT) by 55.4% during the 4th quarter, HoldingsChannel reports. The fund owned 25,871 shares of the real estate investment trust’s stock after acquiring an additional 9,226 shares during the period. First Trust Advisors LP’s holdings in Camden Property Trust were worth $2,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. increased its position in Camden Property Trust by 109.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,424 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 1,268 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Camden Property Trust by 2.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 417,681 shares of the real estate investment trust’s stock worth $39,082,000 after buying an additional 10,700 shares during the period. First Mercantile Trust Co. increased its position in shares of Camden Property Trust by 31.7% during the third quarter. First Mercantile Trust Co. now owns 3,253 shares of the real estate investment trust’s stock worth $304,000 after buying an additional 783 shares during the period. Alliancebernstein L.P. increased its position in shares of Camden Property Trust by 18.1% during the third quarter. Alliancebernstein L.P. now owns 1,417,935 shares of the real estate investment trust’s stock worth $132,676,000 after buying an additional 216,911 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Camden Property Trust by 171.9% during the third quarter. Janus Henderson Group PLC now owns 323,933 shares of the real estate investment trust’s stock worth $30,309,000 after buying an additional 204,809 shares during the period. 92.94% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on CPT. Citigroup set a $100.00 price objective on shares of Camden Property Trust and gave the stock a “hold” rating in a research report on Tuesday, February 5th. Barclays upgraded shares of Camden Property Trust from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $87.00 to $106.00 in a research report on Monday, February 4th. BMO Capital Markets reiterated a “buy” rating and set a $95.00 price objective on shares of Camden Property Trust in a research report on Thursday, January 31st. Zacks Investment Research upgraded shares of Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Finally, Mizuho upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Wednesday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $98.50.

In related news, Director William F. Paulsen sold 11,344 shares of the stock in a transaction on Friday, December 21st. The shares were sold at an average price of $89.38, for a total transaction of $1,013,926.72. Following the transaction, the director now directly owns 2,890 shares of the company’s stock, valued at $258,308.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is owned by corporate insiders.

Shares of NYSE CPT opened at $100.77 on Monday. The firm has a market cap of $9.74 billion, a P/E ratio of 21.13, a P/E/G ratio of 3.24 and a beta of 0.54. Camden Property Trust has a 12-month low of $80.81 and a 12-month high of $101.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.33 and a current ratio of 0.33.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, January 31st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.81). The company had revenue of $244.92 million for the quarter, compared to the consensus estimate of $243.35 million. Camden Property Trust had a return on equity of 4.56% and a net margin of 16.36%. Equities research analysts predict that Camden Property Trust will post 5.06 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, March 29th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 28th. This is a positive change from Camden Property Trust’s previous quarterly dividend of $0.77. This represents a $3.20 annualized dividend and a yield of 3.18%. Camden Property Trust’s dividend payout ratio is currently 64.57%.

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Camden Property Trust Company Profile

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.

Read More: Hedge Funds – Risk or Reward?

Want to see what other hedge funds are holding CPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Camden Property Trust (NYSE:CPT).

Institutional Ownership by Quarter for Camden Property Trust (NYSE:CPT)

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