Camden Property Trust $CPT Stake Increased by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama increased its Camden Property Trust stake by 906.2% in the third quarter, adding 713,933 shares to hold 792,717 shares worth about $76.7 million. Institutional investors collectively own 97.22% of the REIT.
• Analysts give Camden a consensus “Hold” rating and an average price target of $110.95; 11 rate it Hold, three Buy, and one Sell.
• Camden beat quarterly EPS estimates with $1.71 per share, though revenue fell 3.7% year over year. Its quarterly dividend was $1.06 per share, equivalent to a 4.2% annualized yield.

Retirement Systems of Alabama boosted its position in Camden Property Trust (NYSE:CPT - Free Report) by 906.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 792,717 shares of the real estate investment trust's stock after acquiring an additional 713,933 shares during the quarter. Retirement Systems of Alabama owned 0.79% of Camden Property Trust worth $76,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CPT. Park Avenue Securities LLC increased its holdings in shares of Camden Property Trust by 4.0% in the third quarter. Park Avenue Securities LLC now owns 2,617 shares of the real estate investment trust's stock worth $253,000 after buying an additional 101 shares during the period. Lido Advisors LLC boosted its holdings in Camden Property Trust by 4.5% during the 1st quarter. Lido Advisors LLC now owns 2,904 shares of the real estate investment trust's stock valued at $286,000 after acquiring an additional 124 shares during the period. James T. Borello RIA boosted its holdings in Camden Property Trust by 76.3% during the 3rd quarter. James T. Borello RIA now owns 409 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 177 shares during the period. Americana Partners LLC boosted its holdings in Camden Property Trust by 7.7% during the 3rd quarter. Americana Partners LLC now owns 3,379 shares of the real estate investment trust's stock valued at $327,000 after acquiring an additional 242 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Camden Property Trust by 25.7% during the 1st quarter. Parallel Advisors LLC now owns 1,335 shares of the real estate investment trust's stock valued at $130,000 after acquiring an additional 273 shares during the period. Hedge funds and other institutional investors own 97.22% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays decreased their price target on Camden Property Trust from $123.00 to $114.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 14th. Morgan Stanley dropped their price objective on Camden Property Trust from $120.00 to $118.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 12th. Piper Sandler cut their target price on shares of Camden Property Trust from $119.00 to $102.00 and set a "neutral" rating on the stock in a report on Monday, October 12th. JPMorgan Chase & Co. lifted their target price on shares of Camden Property Trust from $113.00 to $114.00 and gave the stock a "neutral" rating in a research note on Thursday, August 13th. Finally, Mizuho lowered their price target on shares of Camden Property Trust from $125.00 to $116.00 and set an "outperform" rating for the company in a report on Tuesday, September 8th. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Camden Property Trust presently has a consensus rating of "Hold" and a consensus target price of $110.95.

Camden Property Trust Stock Performance

Camden Property Trust stock opened at $100.09 on Tuesday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.25. The firm has a market cap of $10.06 billion, a P/E ratio of 9.33, a P/E/G ratio of 7.77 and a beta of 0.75. Camden Property Trust has a 1-year low of $95.30 and a 1-year high of $119.81. The firm has a 50-day moving average of $100.42 and a 200-day moving average of $105.79.

Camden Property Trust (NYSE:CPT - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.02. The company had revenue of $381.06 million for the quarter, compared to the consensus estimate of $384.88 million. Camden Property Trust had a return on equity of 7.66% and a net margin of 20.80%. Camden Property Trust's revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.70 EPS. Sell-side analysts expect that Camden Property Trust will post 6.75 EPS for the current year.

Camden Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were paid a dividend of $1.06 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.24 annualized dividend and a dividend yield of 4.2%. Camden Property Trust's payout ratio is 39.52%.

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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