QRG Capital Management Inc. Acquires 4,559 Shares of Camden Property Trust (NYSE:CPT)

QRG Capital Management Inc. raised its holdings in Camden Property Trust (NYSE:CPT - Free Report) by 30.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,320 shares of the real estate investment trust's stock after purchasing an additional 4,559 shares during the period. QRG Capital Management Inc.'s holdings in Camden Property Trust were worth $2,363,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CPT. National Pension Service bought a new stake in Camden Property Trust during the fourth quarter worth about $26,000. IAG Wealth Partners LLC acquired a new stake in shares of Camden Property Trust during the 4th quarter worth approximately $29,000. Bellwether Advisors LLC bought a new position in Camden Property Trust in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC raised its position in Camden Property Trust by 33.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 531 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 132 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Camden Property Trust by 220.7% during the fourth quarter. Jones Financial Companies Lllp now owns 558 shares of the real estate investment trust's stock worth $65,000 after purchasing an additional 384 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

Camden Property Trust Trading Up 0.6%

CPT stock traded up $0.70 during trading on Monday, hitting $116.29. The company had a trading volume of 805,480 shares, compared to its average volume of 926,283. The stock has a market cap of $12.42 billion, a PE ratio of 106.69, a PEG ratio of 3.50 and a beta of 0.78. The business has a 50-day moving average of $115.95 and a 200-day moving average of $116.47. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.80. Camden Property Trust has a one year low of $102.35 and a one year high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.04. Camden Property Trust had a net margin of 7.62% and a return on equity of 2.47%. The company had revenue of $390.57 million during the quarter, compared to analysts' expectations of $388.47 million. During the same period in the prior year, the company posted $1.70 earnings per share. Camden Property Trust's revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts predict that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Monday, June 30th. Camden Property Trust's dividend payout ratio is 385.32%.

Insider Buying and Selling

In other news, CEO Richard J. Campo sold 5,572 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total transaction of $665,854.00. Following the transaction, the chief executive officer now owns 289,720 shares of the company's stock, valued at $34,621,540. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven A. Webster sold 1,200 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $118.76, for a total value of $142,512.00. Following the completion of the sale, the director now directly owns 117,374 shares of the company's stock, valued at $13,939,336.24. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CPT. Truist Financial set a $131.00 price target on Camden Property Trust and gave the stock a "buy" rating in a report on Monday, May 19th. Mizuho dropped their target price on shares of Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Scotiabank decreased their price target on shares of Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating on the stock in a report on Friday, June 13th. Jefferies Financial Group upgraded shares of Camden Property Trust from a "hold" rating to a "buy" rating and upped their price objective for the stock from $117.00 to $139.00 in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Camden Property Trust from $127.00 to $129.00 and gave the company an "underweight" rating in a research report on Tuesday, June 17th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $129.39.

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.