Algert Global LLC Acquires New Position in Camden Property Trust $CPT

Key Points

• Algert Global LLC acquired a new stake in Camden Property Trust (NYSE:CPT), purchasing 51,265 shares valued at approximately $6.27 million.
• Recent institutional investments include a substantial new stake by Nuveen LLC at about $123.88 million and a dramatic increase in holdings by GAMMA Investing LLC, up 12,973.9%.
• Camden Property Trust recently reported earnings of $1.70 per share for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $1.05 per share.

Algert Global LLC acquired a new stake in Camden Property Trust (NYSE:CPT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,265 shares of the real estate investment trust's stock, valued at approximately $6,270,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPT. Nuveen LLC bought a new stake in Camden Property Trust in the first quarter valued at about $123,882,000. GAMMA Investing LLC boosted its stake in Camden Property Trust by 12,973.9% in the first quarter. GAMMA Investing LLC now owns 403,590 shares of the real estate investment trust's stock valued at $49,359,000 after acquiring an additional 400,503 shares during the period. Northern Trust Corp boosted its stake in Camden Property Trust by 33.7% in the fourth quarter. Northern Trust Corp now owns 1,420,076 shares of the real estate investment trust's stock valued at $164,786,000 after acquiring an additional 357,718 shares during the period. JPMorgan Chase & Co. boosted its stake in Camden Property Trust by 17.2% in the first quarter. JPMorgan Chase & Co. now owns 1,863,792 shares of the real estate investment trust's stock valued at $227,942,000 after acquiring an additional 273,966 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in Camden Property Trust by 43.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 749,607 shares of the real estate investment trust's stock valued at $86,984,000 after acquiring an additional 225,336 shares during the period. 97.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

CPT has been the subject of a number of research reports. Citigroup decreased their target price on Camden Property Trust from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday. Piper Sandler decreased their target price on Camden Property Trust from $130.00 to $117.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. lifted their target price on Camden Property Trust from $127.00 to $129.00 and gave the company an "underweight" rating in a research note on Tuesday, June 17th. Truist Financial set a $131.00 target price on Camden Property Trust and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Evercore ISI decreased their target price on Camden Property Trust from $117.00 to $114.00 and set an "in-line" rating for the company in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $124.94.

Camden Property Trust Stock Performance

Shares of NYSE CPT opened at $106.82 on Monday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.82. The stock has a 50 day simple moving average of $112.59 and a 200-day simple moving average of $115.62. The company has a market cap of $11.41 billion, a PE ratio of 74.70, a P/E/G ratio of 3.63 and a beta of 0.78. Camden Property Trust has a 12-month low of $102.35 and a 12-month high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.01. The firm had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.24 million. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.71 earnings per share. On average, equities research analysts forecast that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, June 30th. Camden Property Trust's dividend payout ratio is 293.71%.

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.