Wells Fargo & Company MN decreased its position in shares of Camden Property Trust (NYSE:CPT) by 2.1% during the 1st quarter, Holdings Channel reports. The fund owned 347,593 shares of the real estate investment trust’s stock after selling 7,477 shares during the quarter. Wells Fargo & Company MN’s holdings in Camden Property Trust were worth $35,281,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. lifted its position in shares of Camden Property Trust by 9.0% in the first quarter. Pictet Asset Management Ltd. now owns 49,594 shares of the real estate investment trust’s stock worth $5,034,000 after purchasing an additional 4,100 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Camden Property Trust by 2.4% during the first quarter. Nomura Asset Management Co. Ltd. now owns 134,710 shares of the real estate investment trust’s stock worth $13,673,000 after buying an additional 3,190 shares during the last quarter. Icon Wealth Partners LLC acquired a new position in Camden Property Trust during the first quarter worth $52,000. Advisor Group Inc. increased its holdings in Camden Property Trust by 9.1% during the first quarter. Advisor Group Inc. now owns 8,035 shares of the real estate investment trust’s stock worth $816,000 after buying an additional 669 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Camden Property Trust by 3.2% during the first quarter. BlackRock Inc. now owns 13,184,993 shares of the real estate investment trust’s stock worth $1,338,278,000 after buying an additional 408,477 shares during the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:CPT traded down $0.38 on Friday, hitting $105.90. The company had a trading volume of 9,203 shares, compared to its average volume of 411,655. Camden Property Trust has a 1-year low of $83.67 and a 1-year high of $106.92. The company has a market cap of $10.28 billion, a P/E ratio of 22.21, a P/E/G ratio of 3.20 and a beta of 0.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.21 and a quick ratio of 0.21.
In related news, President D Keith Oden sold 37,500 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $105.44, for a total value of $3,954,000.00. Following the transaction, the president now directly owns 291,083 shares in the company, valued at $30,691,791.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William F. Paulsen sold 1,979 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $102.19, for a total transaction of $202,234.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,479 shares of company stock worth $10,475,434. Corporate insiders own 3.40% of the company’s stock.
A number of brokerages recently weighed in on CPT. Barclays restated a “buy” rating and set a $108.00 target price on shares of Camden Property Trust in a report on Tuesday, April 16th. SunTrust Banks boosted their target price on shares of Camden Property Trust to $108.00 and gave the stock a “buy” rating in a report on Thursday. Sandler O’Neill downgraded shares of Camden Property Trust from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Finally, KeyCorp boosted their target price on shares of Camden Property Trust from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $100.53.
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Camden Property Trust 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.
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