Rafferty Asset Management LLC Grows Stock Position in Camden Property Trust (NYSE:CPT)

Rafferty Asset Management LLC increased its holdings in shares of Camden Property Trust (NYSE:CPT) by 52.2% during the second quarter, HoldingsChannel reports. The fund owned 7,807 shares of the real estate investment trust’s stock after buying an additional 2,677 shares during the period. Rafferty Asset Management LLC’s holdings in Camden Property Trust were worth $1,036,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CPT. Price T Rowe Associates Inc. MD grew its holdings in Camden Property Trust by 28.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,825,817 shares of the real estate investment trust’s stock valued at $310,586,000 after purchasing an additional 629,415 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Camden Property Trust by 5,084.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,987,297 shares of the real estate investment trust’s stock worth $263,655,000 after purchasing an additional 1,948,965 shares during the period. Long Pond Capital LP raised its holdings in shares of Camden Property Trust by 24.1% in the 1st quarter. Long Pond Capital LP now owns 1,664,620 shares of the real estate investment trust’s stock worth $182,958,000 after purchasing an additional 323,676 shares during the period. Geode Capital Management LLC raised its holdings in shares of Camden Property Trust by 2.5% in the 1st quarter. Geode Capital Management LLC now owns 1,450,609 shares of the real estate investment trust’s stock worth $159,264,000 after purchasing an additional 34,879 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Camden Property Trust by 4.7% during the 1st quarter. Northern Trust Corp now owns 1,349,712 shares of the real estate investment trust’s stock valued at $148,347,000 after buying an additional 60,880 shares during the period. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on CPT. Capital One Financial restated an “overweight” rating on shares of Camden Property Trust in a research note on Thursday, August 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Camden Property Trust from $120.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, May 26th. Truist Securities boosted their price objective on Camden Property Trust from $138.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, August 25th. Barclays initiated coverage on Camden Property Trust in a report on Wednesday, September 1st. They issued an “overweight” rating and a $162.00 target price on the stock. Finally, Zacks Investment Research upgraded Camden Property Trust from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research note on Friday, September 10th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $138.25.

Shares of NYSE CPT opened at $148.69 on Tuesday. The stock has a market capitalization of $14.95 billion, a price-to-earnings ratio of 118.95, a PEG ratio of 16.12 and a beta of 0.73. The business has a 50-day moving average of $147.54 and a 200-day moving average of $130.81. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.80 and a quick ratio of 1.80. Camden Property Trust has a fifty-two week low of $86.19 and a fifty-two week high of $154.05.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, July 29th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.97). Camden Property Trust had a net margin of 11.73% and a return on equity of 3.50%. On average, sell-side analysts expect that Camden Property Trust will post 5.27 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 18th. Shareholders of record on Thursday, September 30th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $3.32 annualized dividend and a yield of 2.23%. Camden Property Trust’s dividend payout ratio (DPR) is presently 67.76%.

In other news, COO H Malcolm Stewart sold 33,350 shares of the company’s stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $148.68, for a total transaction of $4,958,478.00. Following the transaction, the chief operating officer now owns 128,635 shares in the company, valued at $19,125,451.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard J. Campo sold 14,409 shares of the business’s stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $148.62, for a total transaction of $2,141,465.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,208 shares of company stock valued at $12,826,682. 2.80% of the stock is owned by company insiders.

Camden Property Trust Company Profile

Camden Property Trust operates as a real estate investment trust. The firm engages in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. It focuses on maintaining a geographically portfolio of apartment homes located across the U.S.

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

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