Camden Property Trust $CPT Stock Bought by Allworth Financial LP

Key Points

• Allworth Financial LP increased its Camden Property Trust stake by 69,250.2% in the third quarter, buying 285,311 additional shares to hold 285,723 shares worth about $27.6 million. Institutional investors and hedge funds collectively own 97.22% of the stock.
• Camden reported quarterly EPS of $1.71, ahead of the $1.69 consensus, while revenue of $381.06 million missed estimates and fell 3.7% year over year.
• The REIT’s quarterly dividend is $1.06 per share, equivalent to a 4.3% annualized yield. Analysts’ consensus rating is Hold, with an average price target of $108.73.

Allworth Financial LP lifted its holdings in Camden Property Trust (NYSE:CPT - Free Report) by 69,250.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 285,723 shares of the real estate investment trust's stock after buying an additional 285,311 shares during the quarter. Allworth Financial LP owned approximately 0.28% of Camden Property Trust worth $27,638,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Avenue Securities LLC boosted its position in shares of Camden Property Trust by 4.0% during 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 increased its holdings in shares of Camden Property Trust by 4.5% during the first quarter. Lido Advisors LLC now owns 2,904 shares of the real estate investment trust's stock valued at $286,000 after purchasing an additional 124 shares during the period. James T. Borello RIA increased its holdings in shares of Camden Property Trust by 76.3% during the third quarter. James T. Borello RIA now owns 409 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 177 shares during the period. IAG Wealth Partners LLC raised its holdings in Camden Property Trust by 87.2% during the third quarter. IAG Wealth Partners LLC now owns 468 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 218 shares in the last quarter. Finally, Americana Partners LLC raised its position in Camden Property Trust by 7.7% in the third quarter. Americana Partners LLC now owns 3,379 shares of the real estate investment trust's stock worth $327,000 after acquiring an additional 242 shares in the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

Camden Property Trust Stock Up 0.8%

Shares of CPT opened at $99.19 on Friday. Camden Property Trust has a 52 week low of $95.30 and a 52 week high of $119.81. The firm has a market capitalization of $9.93 billion, a P/E ratio of 14.36, a P/E/G ratio of 10.48 and a beta of 0.75. The company has a 50-day simple moving average of $99.90 and a 200-day simple moving average of $105.62. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.18 and a current ratio of 1.82.

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, topping the consensus estimate of $1.69 by $0.02. The company had revenue of $381.06 million for the quarter, compared to analyst estimates of $384.88 million. Camden Property Trust had a return on equity of 26.22% and a net margin of 71.94%. Camden Property Trust's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.70 EPS. On average, equities research analysts expect that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Wednesday, September 30th. Camden Property Trust's dividend payout ratio (DPR) is currently 39.52%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company reduced 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 research note on Monday, October 19th. Jefferies Financial Group raised shares of Camden Property Trust to a "hold" rating in a research note on Wednesday, July 22nd. Piper Sandler reduced their target price on Camden Property Trust from $119.00 to $102.00 and set a "neutral" rating for the company in a report on Monday, October 12th. Barclays reduced their target price on Camden Property Trust from $123.00 to $114.00 and set an "equal weight" rating for the company in a report on Wednesday, October 14th. Finally, Weiss Ratings cut Camden Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $108.73.

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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