Bank of New York Mellon Corp Reduces Stake in Camden Property Trust (NYSE:CPT)

Bank of New York Mellon Corp cut its holdings in Camden Property Trust (NYSE:CPT - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 810,729 shares of the real estate investment trust's stock after selling 23,329 shares during the quarter. Bank of New York Mellon Corp owned 0.75% of Camden Property Trust worth $99,152,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Camden Property Trust during the fourth quarter worth approximately $187,606,000. Invesco Ltd. raised its position in shares of Camden Property Trust by 17.3% during 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 raised its position in shares of Camden Property Trust by 12,973.9% during 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 raised its position in shares of Camden Property Trust by 33.7% during 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 raised its position in shares of Camden Property Trust by 15.9% during 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 institutional investors and hedge funds.

Camden Property Trust Stock Performance

NYSE:CPT traded up $0.35 during trading on Friday, reaching $113.76. The company's stock had a trading volume of 599,372 shares, compared to its average volume of 952,699. The firm has a market cap of $12.15 billion, a price-to-earnings ratio of 104.37, a price-to-earnings-growth ratio of 3.77 and a beta of 0.77. 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 50 day moving average of $115.98 and a 200-day moving average of $116.05. 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 announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.04. The firm had revenue of $390.57 million during the quarter, compared to the consensus estimate of $388.47 million. Camden Property Trust had a return on equity of 2.47% and a net margin of 7.62%. The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 EPS. Research analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.20 annualized dividend and a dividend yield of 3.69%. Camden Property Trust's payout ratio is 385.32%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CPT shares. Wall Street Zen lowered 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 target price on Camden Property Trust and gave the stock a "buy" rating in a research report on Monday, May 19th. Citigroup upgraded Camden Property Trust from a "neutral" rating to a "buy" rating and upped their price target for the stock from $125.00 to $138.00 in a report on Friday, March 28th. Scotiabank decreased their price target on Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating for the company in a report on Friday, June 13th. Finally, Mizuho decreased their price target on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $129.39.

Insider Buying and Selling at Camden Property Trust

In other news, CEO Richard J. Campo sold 5,572 shares of the 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 in the company, valued at approximately $34,621,540. This represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven A. Webster sold 1,200 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $118.76, for a total value of $142,512.00. Following the transaction, the director owned 117,374 shares of the company's stock, valued at $13,939,336.24. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

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.