Bank of Nova Scotia Reduces Holdings in Camden Property Trust (NYSE:CPT)

Bank of Nova Scotia lowered its stake in shares of Camden Property Trust (NYSE:CPT - Free Report) by 21.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,141 shares of the real estate investment trust's stock after selling 3,097 shares during the quarter. Bank of Nova Scotia's holdings in Camden Property Trust were worth $1,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CPT. Bellwether Advisors LLC bought a new stake in Camden Property Trust during the 4th quarter valued at approximately $31,000. Tsfg LLC purchased a new position in shares of Camden Property Trust in the 1st quarter valued at approximately $40,000. Allworth Financial LP lifted its stake in shares of Camden Property Trust by 47.4% in the 1st quarter. Allworth Financial LP now owns 491 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 158 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Camden Property Trust during the first quarter valued at approximately $64,000. Finally, Intact Investment Management Inc. purchased a new stake in Camden Property Trust in the first quarter worth $73,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays raised their price objective on Camden Property Trust from $136.00 to $137.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Wall Street Zen raised shares of Camden Property Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group dropped their price objective on shares of Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Truist Financial set a $131.00 target price on shares of Camden Property Trust and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Piper Sandler lowered their target price on shares of Camden Property Trust from $130.00 to $117.00 and set a "neutral" rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $127.65.

Insiders Place Their Bets

In other news, Director Steven A. Webster sold 1,200 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $118.76, for a total transaction of $142,512.00. Following the sale, the director owned 117,374 shares of the company's stock, valued at $13,939,336.24. This trade represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.80% of the company's stock.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $106.97 on Friday. The firm has a market cap of $11.43 billion, a P/E ratio of 74.80, a PEG ratio of 3.54 and a beta of 0.78. Camden Property Trust has a twelve month low of $102.35 and a twelve month high of $127.69. The company has a quick ratio of 0.19, a current ratio of 0.18 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average of $113.95 and a 200 day moving average of $115.82.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 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 return on equity of 3.30% and a net margin of 9.99%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.71 EPS. As a group, research analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $4.20 dividend on an annualized basis and a yield of 3.9%. Camden Property Trust's 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.

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