Allianz Asset Management GmbH Lowers Stock Holdings in Camden Property Trust (NYSE:CPT)

Allianz Asset Management GmbH trimmed its position in shares of Camden Property Trust (NYSE:CPT - Free Report) by 53.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,342 shares of the real estate investment trust's stock after selling 197,597 shares during the period. Allianz Asset Management GmbH owned approximately 0.16% of Camden Property Trust worth $20,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Camden Property Trust in the fourth quarter worth $187,606,000. Invesco Ltd. increased its stake in Camden Property Trust by 17.3% in the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust's stock worth $344,432,000 after purchasing an additional 438,685 shares during the period. GAMMA Investing LLC increased 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 worth $49,359,000 after purchasing an additional 400,503 shares during the period. Northern Trust Corp increased 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 worth $164,786,000 after purchasing an additional 357,718 shares during the period. Finally, Centersquare Investment Management LLC increased its stake in Camden Property Trust by 15.9% in the fourth quarter. Centersquare Investment Management LLC now owns 2,522,398 shares of the real estate investment trust's stock worth $292,699,000 after purchasing an additional 345,331 shares during the period. 97.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CPT shares. JPMorgan Chase & Co. increased their target price on Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a research note on Tuesday, June 17th. Wall Street Zen downgraded Camden Property Trust from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Truist Financial set a $131.00 price target on Camden Property Trust and gave the stock a "buy" rating in a research report on Monday, May 19th. Barclays set a $137.00 price target on Camden Property Trust and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Mizuho dropped their price target on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $129.28.

Camden Property Trust Stock Performance

Camden Property Trust stock traded down $0.24 during mid-day trading on Monday, reaching $113.30. 135,766 shares of the company were exchanged, compared to its average volume of 973,901. Camden Property Trust has a twelve month low of $102.35 and a twelve month high of $127.69. The firm's 50-day simple moving average is $115.14 and its two-hundred day simple moving average is $116.05. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $12.11 billion, a PE ratio of 104.00, a price-to-earnings-growth ratio of 3.76 and a beta of 0.77.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 EPS for the quarter, beating the consensus estimate of $1.68 by $0.04. The business had revenue of $390.57 million during the quarter, compared to analysts' expectations of $388.47 million. Camden Property Trust had a return on equity of 2.47% and a net margin of 7.62%. The company's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $1.70 EPS. Equities analysts predict that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 3.71%. The ex-dividend date was Monday, June 30th. Camden Property Trust's payout ratio is 385.32%.

Insider Buying and Selling at Camden Property Trust

In other Camden Property Trust news, CEO Richard J. Campo sold 5,572 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total transaction of $665,854.00. Following the completion of the transaction, the chief executive officer owned 289,720 shares of the company's stock, valued at approximately $34,621,540. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven A. Webster sold 1,200 shares of Camden Property Trust stock in a transaction on Friday, May 16th. The shares were sold at an average price of $118.76, for a total value of $142,512.00. Following the completion of the sale, the director directly owned 117,374 shares of the company's stock, valued at approximately $13,939,336.24. This represents a 1.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

Camden Property Trust Profile

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.