Aew Capital Management Inc. Purchases 885,997 Shares of Camden Property Trust $CPT

Key Points

• Aew Capital Management acquired 885,997 Camden Property Trust shares in the third quarter, worth about $85.7 million. The position represents 0.88% of Camden and 5.6% of AEW’s portfolio.
• Analysts have a consensus “Hold” rating and an average price target of $108.73; 11 analysts rate the stock Hold, two Buy, and one Sell.
• Camden beat quarterly EPS estimates ($1.71 versus $1.69), but revenue fell 3.7% year over year to $381.06 million and missed estimates. Its quarterly dividend of $1.06 equates to a 4.3% yield.

Aew Capital Management Inc. acquired a new position in Camden Property Trust (NYSE:CPT - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 885,997 shares of the real estate investment trust's stock, valued at approximately $85,702,000. Camden Property Trust makes up approximately 5.6% of Aew Capital Management Inc.'s holdings, making the stock its 5th biggest position. Aew Capital Management Inc. owned about 0.88% of Camden Property Trust at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPT. New Mexico Educational Retirement Board grew its holdings in Camden Property Trust by 878.8% in the third quarter. New Mexico Educational Retirement Board now owns 50,900 shares of the real estate investment trust's stock valued at $4,924,000 after purchasing an additional 45,700 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of Camden Property Trust by 1,084.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 61,886 shares of the real estate investment trust's stock valued at $5,986,000 after purchasing an additional 56,662 shares in the last quarter. Joel Isaacson & Co. LLC lifted its position in shares of Camden Property Trust by 10.9% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 2,772 shares of the real estate investment trust's stock worth $268,000 after purchasing an additional 272 shares during the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of Camden Property Trust during the 3rd quarter worth $1,217,000. Finally, Silver Grove Financial Group Inc. grew its stake in shares of Camden Property Trust by 3,120.0% during the third quarter. Silver Grove Financial Group Inc. now owns 966 shares of the real estate investment trust's stock worth $93,000 after purchasing an additional 936 shares in the last quarter. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CPT has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Camden Property Trust from $123.00 to $114.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 14th. Deutsche Bank restated a "hold" rating and issued a $114.00 price objective on shares of Camden Property Trust in a research note on Monday, July 20th. JPMorgan Chase & Co. lifted their target price on Camden Property Trust from $113.00 to $114.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Wall Street Zen raised Camden Property Trust from a "strong sell" rating to a "sell" rating in a research report on Saturday, November 7th. Finally, Wells Fargo & Company cut their price target on Camden Property Trust from $110.00 to $103.00 and set an "equal weight" rating on the stock in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $108.73.

Camden Property Trust Stock Performance

NYSE:CPT opened at $99.04 on Thursday. Camden Property Trust has a 52-week low of $95.30 and a 52-week high of $119.81. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 10.63 and a beta of 0.75. The firm's 50-day moving average is $100.16 and its 200-day moving average is $105.72. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.18 and a current ratio of 1.82.

Camden Property Trust (NYSE:CPT - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.02. The business had revenue of $381.06 million for the quarter, compared to analyst estimates of $384.88 million. Camden Property Trust had a return on equity of 26.22% and a net margin of 71.94%. Camden Property Trust's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.70 EPS. Equities research analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, September 30th. Camden Property Trust's dividend payout ratio is currently 39.52%.

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.

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