Camden Property Trust $CPT Stake Lifted by Alps Advisors Inc.

Key Points

• Alps Advisors sharply increased its Camden Property Trust stake, boosting holdings 777.5% in Q3 to 69,558 shares, valued at about $6.7 million.
• Quarterly results were mixed: FFO per share of $1.71 beat the $1.69 consensus, but revenue of $381.1 million missed estimates and fell 3.7% year over year.
• Analysts held a consensus “Hold” rating, with an average price target of $111.62. Camden’s annualized dividend is $4.24 per share, a yield of about 4.2%.

Alps Advisors Inc. boosted its holdings in Camden Property Trust (NYSE:CPT - Free Report) by 777.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,558 shares of the real estate investment trust's stock after purchasing an additional 61,631 shares during the period. Alps Advisors Inc. owned about 0.07% of Camden Property Trust worth $6,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPT. Maverick Capital Ltd. raised its holdings in Camden Property Trust by 1.6% in the first quarter. Maverick Capital Ltd. now owns 1,867,866 shares of the real estate investment trust's stock valued at $182,416,000 after acquiring an additional 30,076 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Camden Property Trust by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,598,671 shares of the real estate investment trust's stock valued at $156,128,000 after acquiring an additional 37,456 shares during the last quarter. Jennison Associates LLC boosted its stake in Camden Property Trust by 100.2% during the 1st quarter. Jennison Associates LLC now owns 1,206,854 shares of the real estate investment trust's stock valued at $117,861,000 after acquiring an additional 603,997 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Camden Property Trust by 945.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 616,861 shares of the real estate investment trust's stock valued at $59,669,000 after acquiring an additional 557,850 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Camden Property Trust by 49.7% during the 1st quarter. Renaissance Technologies LLC now owns 466,800 shares of the real estate investment trust's stock worth $45,588,000 after acquiring an additional 154,900 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company's stock.

Camden Property Trust Trading Up 0.4%

Camden Property Trust stock opened at $99.83 on Monday. Camden Property Trust has a 1 year low of $95.30 and a 1 year high of $119.81. The firm's 50-day moving average is $100.55 and its 200-day moving average is $105.83. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.18 and a current ratio of 1.82. The company has a market cap of $10.04 billion, a P/E ratio of 9.30, a PEG ratio of 7.40 and a beta of 0.75.

Camden Property Trust (NYSE:CPT - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.02. The business had revenue of $381.06 million during the quarter, compared to the consensus estimate of $384.88 million. Camden Property Trust had a net margin of 71.94% and a return on equity of 26.22%. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 EPS. On average, equities analysts expect that Camden Property Trust will post 6.75 earnings per share for the current year.

Camden Property Trust Announces Dividend

The business 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. 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 dividend payout ratio is 140.40%.

More Camden Property Trust News

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

Analyst Upgrades and Downgrades

CPT has been the subject of several research analyst reports. Truist Financial dropped their target price on shares of Camden Property Trust from $123.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, September 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $114.00 price target on shares of Camden Property Trust in a research report on Monday, July 20th. JPMorgan Chase & Co. increased their price target on shares of Camden Property Trust from $113.00 to $114.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Weiss Ratings downgraded Camden Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. Finally, Royal Bank Of Canada lowered their price objective on Camden Property Trust from $111.00 to $101.00 and set a "sector perform" rating for the company in a report on Tuesday, October 13th. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $111.62.

About Camden Property Trust

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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