Arrowstreet Capital Limited Partnership Lowers Holdings in Camden Property Trust $CPT

Key Points

• Arrowstreet Capital reduced its Camden Property Trust stake by 38.5% in the first quarter, selling 177,737 shares and ending with 284,055 shares worth approximately $27.7 million. Institutional investors collectively own 97.22% of the REIT.
• Analyst sentiment remains mixed, with five Buy, twelve Hold, and two Sell ratings; the consensus rating is Hold with a $116.40 price target. Recent targets range from $102 to $123.
• Camden reported quarterly EPS of $0.40, beating estimates of $0.28, while revenue reached $390.92 million. The company also paid a $1.06 quarterly dividend, equal to a 3.6% annualized yield.

Arrowstreet Capital Limited Partnership lowered its stake in shares of Camden Property Trust (NYSE:CPT - Free Report) by 38.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 284,055 shares of the real estate investment trust's stock after selling 177,737 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.28% of Camden Property Trust worth $27,741,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vert Asset Management LLC acquired a new stake in shares of Camden Property Trust during the 4th quarter worth approximately $3,150,000. Teacher Retirement System of Texas increased its holdings in shares of Camden Property Trust by 517.9% during the 4th quarter. Teacher Retirement System of Texas now owns 267,847 shares of the real estate investment trust's stock valued at $29,485,000 after purchasing an additional 224,501 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Camden Property Trust by 120.5% in the 4th quarter. M&T Bank Corp now owns 19,068 shares of the real estate investment trust's stock valued at $2,100,000 after purchasing an additional 10,420 shares during the period. Coronation Fund Managers Ltd. acquired a new position in shares of Camden Property Trust in the 4th quarter valued at $17,583,000. Finally, CORDA Investment Management LLC. boosted its holdings in Camden Property Trust by 90.8% during the first quarter. CORDA Investment Management LLC. now owns 426,913 shares of the real estate investment trust's stock worth $41,692,000 after buying an additional 203,131 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company's stock.

Analysts Set New Price Targets

CPT has been the topic of several analyst reports. UBS Group dropped their price target on shares of Camden Property Trust from $108.00 to $106.00 and set a "neutral" rating on the stock in a research report on Thursday, May 14th. Cantor Fitzgerald dropped their target price on Camden Property Trust from $108.00 to $102.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of Camden Property Trust in a research report on Friday, July 17th. Morgan Stanley raised their price objective on Camden Property Trust from $117.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, June 25th. Finally, Truist Financial boosted their price objective on Camden Property Trust from $118.00 to $123.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Camden Property Trust has a consensus rating of "Hold" and a consensus target price of $116.40.

Camden Property Trust Trading Up 1.2%

Shares of CPT opened at $116.44 on Thursday. Camden Property Trust has a 52-week low of $96.53 and a 52-week high of $119.81. The stock has a market cap of $11.70 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 8.86 and a beta of 0.78. The firm's fifty day moving average is $112.31 and its two-hundred day moving average is $107.41. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 1.04.

Camden Property Trust (NYSE:CPT - Get Free Report) last issued its earnings results on Thursday, April 30th. The real estate investment trust reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.12. The business had revenue of $390.92 million during the quarter, compared to analysts' expectations of $378.11 million. Camden Property Trust had a net margin of 24.69% and a return on equity of 8.71%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.72 earnings per share. Research analysts forecast that Camden Property Trust will post 6.66 earnings per share for the current fiscal year.

Camden Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th were given a $1.06 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.6%. Camden Property Trust's dividend payout ratio is 118.44%.

Camden Property Trust Profile

Camden Property Trust is a publicly traded real estate investment trust (REIT) specializing in the ownership, development and management of multifamily residential communities across the United States. The company's core business activities include acquiring land for new construction, overseeing the design and development of garden-style and mid-rise apartment communities, and providing ongoing property management services. Camden's asset management team focuses on maintaining high occupancy levels, resident satisfaction and operational efficiency through consistent leasing, maintenance and community engagement programs.

Camden's portfolio encompasses a geographically diversified mix of properties located primarily in high-growth Sun Belt and major metropolitan markets.

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