Camden Property Trust $CPT Shares Acquired by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its Camden Property Trust stake by 3,858.4% in the third quarter, ending the period with 216,448 shares valued at about $20.9 million. Other institutional investors also added shares, and institutions collectively held 97.22% of the REIT.
• Camden’s quarterly FFO was $1.71 per share, topping the $1.69 consensus, but revenue of $381.06 million missed estimates and fell 3.7% year over year. The company forecast fourth-quarter core FFO of $1.63–$1.67 per share.
• The REIT’s annualized dividend is $4.24 per share, a 4.2% yield. Analysts’ consensus rating was Hold, with an average price target of $111.62.

Kestra Advisory Services LLC grew its holdings in Camden Property Trust (NYSE:CPT - Free Report) by 3,858.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 216,448 shares of the real estate investment trust's stock after buying an additional 210,980 shares during the quarter. Kestra Advisory Services LLC owned approximately 0.22% of Camden Property Trust worth $20,937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CPT. Telos Capital Management Inc. increased its stake in shares of Camden Property Trust by 643.6% during the third quarter. Telos Capital Management Inc. now owns 122,102 shares of the real estate investment trust's stock valued at $11,811,000 after buying an additional 105,682 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Camden Property Trust by 11,442.8% during the third quarter. Commonwealth Equity Services LLC now owns 403,883 shares of the real estate investment trust's stock valued at $39,068,000 after acquiring an additional 400,384 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in Camden Property Trust by 73.5% in the third quarter. Chicago Partners Investment Group LLC now owns 9,929 shares of the real estate investment trust's stock worth $1,013,000 after acquiring an additional 4,206 shares during the period. Rakuten Investment Management Inc. lifted its stake in Camden Property Trust by 8.0% in the third quarter. Rakuten Investment Management Inc. now owns 11,509 shares of the real estate investment trust's stock worth $1,133,000 after acquiring an additional 852 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Camden Property Trust in the third quarter valued at $2,528,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

Camden Property Trust Trading Down 3.7%

CPT opened at $99.83 on Friday. The stock has a market cap of $10.04 billion, a PE ratio of 9.30, a PEG ratio of 7.39 and a beta of 0.75. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.25. The business has a 50 day moving average of $100.55 and a 200-day moving average of $105.83. Camden Property Trust has a 52 week low of $95.30 and a 52 week high of $119.81.

Camden Property Trust (NYSE:CPT - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.02. The company had revenue of $381.06 million for the quarter, compared to analysts' expectations of $384.88 million. Camden Property Trust had a return on equity of 26.99% and a net margin of 71.94%. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.70 earnings per share. Equities research analysts predict that Camden Property Trust will post 6.75 earnings per share for the current fiscal year.

Camden Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, September 30th. Camden Property Trust's payout ratio is 140.40%.

Key Stories Impacting Camden Property Trust

Here are the key news stories impacting Camden Property Trust this week:

• Positive Sentiment: Q3 funds from operations (FFO) were $1.71 per share, topping the $1.69 consensus and rising from $1.70 a year earlier. The company also cited improving leasing trends and lower property expenses. Camden Property's Q3 FFO Beats Estimates as Leasing Trends Improve
• Neutral Sentiment: Camden forecast Q4 core FFO of $1.63–$1.67 per share; the available report did not provide a comparable analyst estimate to gauge whether the outlook is above or below expectations. Camden Property Trust Q4 Core FFO Guidance
• Negative Sentiment: Revenue was $381.06 million, below analysts’ $384.88 million estimate and down 3.7% year over year. Reports also flagged weakness in same-property NOI, tempering the FFO beat and raising concerns about operating momentum. Camden Property Q3 FFO Higher, Revenue Lower; Issues Guidance

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CPT shares. Piper Sandler reduced their price objective on shares of Camden Property Trust from $119.00 to $102.00 and set a "neutral" rating on the stock in a research report on Monday, October 12th. Wells Fargo & Company decreased their price objective on shares of Camden Property Trust from $110.00 to $103.00 and set an "equal weight" rating for the company in a report on Monday, October 19th. UBS Group dropped their target price on shares of Camden Property Trust from $105.00 to $101.00 and set a "neutral" rating for the company in a research report on Wednesday, October 14th. Stifel Nicolaus set a $123.25 target price on shares of Camden Property Trust in a research note on Friday, July 31st. Finally, Weiss Ratings cut shares of Camden Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $111.62.

Camden Property Trust Company Profile

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas.

Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.

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