Allstate Corp Purchases 9,861 Shares of Camden Property Trust $CPT

Key Points

• Allstate Corp increased its stake in Camden Property Trust by 304.3% in Q1, now holding 13,102 shares valued at approximately $1.60 million.
• Camden Property Trust reported Q2 earnings of $1.70 per share, surpassing analyst estimates, with a revenue of $396.51 million, reflecting a 2.4% year-over-year increase.
• The company announced a quarterly dividend of $1.05 per share, representing an annualized payout of $4.20 and a dividend yield of 3.8%.

Allstate Corp increased its position in Camden Property Trust (NYSE:CPT - Free Report) by 304.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,102 shares of the real estate investment trust's stock after purchasing an additional 9,861 shares during the quarter. Allstate Corp's holdings in Camden Property Trust were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Centersquare Investment Management LLC boosted its stake in shares of Camden Property Trust by 3.6% in the first quarter. Centersquare Investment Management LLC now owns 2,614,150 shares of the real estate investment trust's stock valued at $319,711,000 after purchasing an additional 91,752 shares during the period. Wellington Management Group LLP boosted its stake in shares of Camden Property Trust by 9.2% in the first quarter. Wellington Management Group LLP now owns 2,271,077 shares of the real estate investment trust's stock valued at $277,753,000 after purchasing an additional 192,133 shares during the period. JPMorgan Chase & Co. raised its holdings 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Camden Property Trust by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,538,038 shares of the real estate investment trust's stock valued at $188,102,000 after acquiring an additional 23,488 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Camden Property Trust by 2.3% during the first quarter. Northern Trust Corp now owns 1,452,031 shares of the real estate investment trust's stock worth $177,583,000 after purchasing an additional 31,955 shares during the period. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CPT. JPMorgan Chase & Co. increased their target price on shares of Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a report on Tuesday, June 17th. Barclays dropped their price objective on shares of Camden Property Trust from $137.00 to $128.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Piper Sandler dropped their price objective on shares of Camden Property Trust from $130.00 to $117.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Mizuho dropped their price objective on shares of Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Finally, UBS Group decreased their target price on shares of Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $124.04.

Camden Property Trust Trading Up 1.2%

Shares of CPT traded up $1.31 during midday trading on Friday, hitting $112.05. The stock had a trading volume of 151,061 shares, compared to its average volume of 976,414. The business has a 50-day simple moving average of $111.17 and a two-hundred day simple moving average of $115.16. 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 firm has a market cap of $11.97 billion, a P/E ratio of 78.35, a price-to-earnings-growth ratio of 3.75 and a beta of 0.78. Camden Property Trust has a fifty-two week low of $102.35 and a fifty-two week high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.01. The business had revenue of $396.51 million during the quarter, compared to analyst estimates of $393.24 million. Camden Property Trust had a net margin of 9.99% and a return on equity of 3.30%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 earnings per share. Camden Property Trust has set its FY 2025 guidance at 6.760-6.860 EPS. Q3 2025 guidance at 1.670-1.710 EPS. As a group, equities analysts forecast that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, June 30th. Camden Property Trust's dividend payout ratio is 293.71%.

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.