Forsta AP Fonden Sells 17,900 Shares of Camden Property Trust (NYSE:CPT)

Key Points

• Forsta AP Fonden reduced its stake in Camden Property Trust by 50.9%, selling 17,900 shares, leaving it with a total of 17,300 shares valued at approximately $2.12 million.
• GAMMA Investing LLC significantly increased its holdings in Camden Property Trust by 12,973.9%, acquiring over 400,000 additional shares, resulting in total holdings valued at about $49.36 million.
• Wall Street analysts have downgraded the price targets for Camden Property Trust, with the average target now at $125.69, while the stock maintains a consensus rating of "Hold."

Forsta AP Fonden lessened its stake in Camden Property Trust (NYSE:CPT - Free Report) by 50.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,300 shares of the real estate investment trust's stock after selling 17,900 shares during the quarter. Forsta AP Fonden's holdings in Camden Property Trust were worth $2,116,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Bellwether Advisors LLC acquired a new stake in Camden Property Trust during the 4th quarter valued at $31,000. Tsfg LLC acquired a new stake in shares of Camden Property Trust during the first quarter worth $40,000. Allworth Financial LP lifted its holdings in shares of Camden Property Trust by 47.4% during the first quarter. Allworth Financial LP now owns 491 shares of the real estate investment trust's stock worth $56,000 after buying an additional 158 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Camden Property Trust during the first quarter worth $64,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Camden Property Trust during the first quarter worth $73,000. Institutional investors and hedge funds own 97.22% of the company's stock.

Camden Property Trust Price Performance

Shares of CPT traded up $0.80 during mid-day trading on Friday, hitting $106.82. 789,492 shares of the stock were exchanged, compared to its average volume of 975,966. The firm has a 50-day moving average of $112.59 and a two-hundred day moving average of $115.57. Camden Property Trust has a 52-week low of $102.35 and a 52-week high of $127.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market cap of $11.41 billion, a PE ratio of 74.70, a price-to-earnings-growth ratio of 3.60 and a beta of 0.78.

Camden Property Trust (NYSE:CPT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.70 EPS for the quarter, beating the consensus estimate of $1.69 by $0.01. Camden Property Trust had a net margin of 9.99% and a return on equity of 3.30%. The business had revenue of $396.51 million during the quarter, compared to analyst estimates of $393.24 million. During the same quarter last year, the business earned $1.71 earnings per share. Camden Property Trust's quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $4.20 dividend on an annualized basis and a yield of 3.9%. Camden Property Trust's payout ratio is 293.71%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CPT. Evercore ISI dropped their target price on Camden Property Trust from $117.00 to $114.00 and set an "in-line" rating for the company in a report on Tuesday. Scotiabank restated a "sector perform" rating and issued a $133.00 price target (down previously from $136.00) on shares of Camden Property Trust in a research report on Thursday. Piper Sandler decreased their price target on Camden Property Trust from $130.00 to $117.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Mizuho decreased their price target on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Finally, Citigroup decreased their price target on Camden Property Trust from $138.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Camden Property Trust currently has a consensus rating of "Hold" and an average target price of $124.94.

Camden Property Trust Profile

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.