Camden Property Trust $CPT Stock: Telos Capital Management Inc. Increases Holdings

Key Points

• Telos Capital Management increased its Camden Property Trust stake by 643.6% in the third quarter, to 122,102 shares worth about $11.8 million. Institutional investors collectively own 97.22% of the REIT’s stock.
• Analysts have a consensus Hold rating and an average price target of $111.62; recent reports included several target cuts, though Truist maintained a Buy rating.
• Camden reported quarterly EPS of $1.71, above the $1.69 estimate, while revenue fell 3.7% year over year to $381.06 million. Its annualized dividend is $4.24 per share, a 4.1% yield.

Telos Capital Management Inc. lifted its position in shares of Camden Property Trust (NYSE:CPT - Free Report) by 643.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,102 shares of the real estate investment trust's stock after buying an additional 105,682 shares during the period. Telos Capital Management Inc. owned approximately 0.12% of Camden Property Trust worth $11,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its position in Camden Property Trust by 11,442.8% in 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 purchasing an additional 400,384 shares during the period. Chicago Partners Investment Group LLC lifted its stake in shares of Camden Property Trust by 73.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,929 shares of the real estate investment trust's stock valued at $1,013,000 after purchasing an additional 4,206 shares during the last quarter. Rakuten Investment Management Inc. grew its holdings in shares of Camden Property Trust by 8.0% during the 3rd quarter. Rakuten Investment Management Inc. now owns 11,509 shares of the real estate investment trust's stock worth $1,133,000 after purchasing an additional 852 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Camden Property Trust during the 3rd quarter worth $2,528,000. Finally, ProShare Advisors LLC grew its holdings in shares of Camden Property Trust by 2.3% during the 3rd quarter. ProShare Advisors LLC now owns 19,630 shares of the real estate investment trust's stock worth $1,899,000 after purchasing an additional 450 shares during the period. Hedge funds and other institutional investors own 97.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays reduced their price objective on shares of Camden Property Trust from $123.00 to $114.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 14th. 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. Mizuho lowered their target price on shares of Camden Property Trust from $125.00 to $116.00 and set an "outperform" rating for the company in a research note on Tuesday, September 8th. Stifel Nicolaus set a $123.25 price target on shares of Camden Property Trust in a research report on Friday, July 31st. Finally, Truist Financial dropped their price target 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. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $111.62.

Camden Property Trust Stock Performance

NYSE CPT opened at $103.65 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.18 and a quick ratio of 0.18. The company has a market cap of $10.42 billion, a P/E ratio of 34.32, a P/E/G ratio of 7.77 and a beta of 0.75. The stock has a 50-day moving average of $100.66 and a two-hundred day moving average of $105.87. Camden Property Trust has a 1-year low of $95.30 and a 1-year 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 (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.02. Camden Property Trust had a net margin of 20.80% and a return on equity of 7.66%. The business had revenue of $381.06 million for the quarter, compared to analysts' expectations of $384.88 million. During the same quarter in the prior year, the company earned $1.70 earnings per share. The business's quarterly revenue was down 3.7% on a year-over-year basis. As a group, analysts anticipate that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were paid a $1.06 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $4.24 annualized dividend and a dividend yield of 4.1%. Camden Property Trust's payout ratio is 140.40%.

Camden Property Trust Profile

Camden Property Trust NYSE: CPT is a real estate investment trust that owns, develops, acquires, and manages multifamily apartment communities. The company provides rental housing to individuals and families through a portfolio of communities offering a range of apartment layouts, amenities, and resident services.

Camden focuses primarily on high-growth markets in the Sun Belt, including metropolitan areas in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, and Tennessee. Its communities are generally located in major urban and suburban markets and are managed through the company's in-house property management platform.

Founded in 1993 and headquartered in Houston, Texas, Camden Property Trust has expanded through apartment development, acquisitions, and ongoing property renovations.

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