Pacer Advisors Inc. Sells 3,583 Shares of Camden Property Trust (NYSE:CPT)

Key Points

• Pacer Advisors Inc. reduced its stake in Camden Property Trust (NYSE:CPT) by 39.7% during Q1, now holding 5,442 shares valued at $666,000.
• Several institutional investors have increased their positions in Camden Property Trust, with 97.22% of the stock owned by institutional investors and hedge funds.
• Camden Property Trust announced a quarterly dividend of $1.05, representing an annualized yield of 3.9% while maintaining a payout ratio of 293.71%.

Pacer Advisors Inc. decreased its position in Camden Property Trust (NYSE:CPT - Free Report) by 39.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,442 shares of the real estate investment trust's stock after selling 3,583 shares during the period. Pacer Advisors Inc.'s holdings in Camden Property Trust were worth $666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CPT. Northern Trust Corp lifted its position in Camden Property Trust by 33.7% in the 4th quarter. Northern Trust Corp now owns 1,420,076 shares of the real estate investment trust's stock valued at $164,786,000 after acquiring an additional 357,718 shares in the last quarter. Natixis lifted its position in Camden Property Trust by 741.3% in the 4th quarter. Natixis now owns 18,063 shares of the real estate investment trust's stock valued at $2,096,000 after acquiring an additional 15,916 shares in the last quarter. Jump Financial LLC lifted its position in Camden Property Trust by 32.1% during the 4th quarter. Jump Financial LLC now owns 20,777 shares of the real estate investment trust's stock worth $2,411,000 after buying an additional 5,051 shares in the last quarter. MQS Management LLC bought a new stake in Camden Property Trust during the 1st quarter worth about $1,421,000. Finally, Freestone Grove Partners LP bought a new stake in Camden Property Trust during the 4th quarter worth about $591,000. Institutional investors and hedge funds own 97.22% of the company's stock.

Camden Property Trust Stock Performance

Shares of NYSE:CPT traded up $1.50 on Tuesday, reaching $107.27. 476,101 shares of the company's stock were exchanged, compared to its average volume of 987,894. The company has a fifty day moving average of $114.48 and a 200-day moving average of $115.98. Camden Property Trust has a twelve month low of $102.35 and a twelve month high of $127.69. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 75.06, a PEG ratio of 3.55 and a beta of 0.78. The company has a current ratio of 0.18, a quick ratio of 0.19 and a debt-to-equity ratio of 0.82.

Camden Property Trust (NYSE:CPT - Get Free Report) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.24 million. During the same quarter in the prior year, the business posted $1.71 EPS. The business's revenue was up 2.4% compared to the same quarter last year. On average, research analysts predict that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

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

Analyst Ratings Changes

Several brokerages have commented on CPT. UBS Group cut their price target on shares of Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Piper Sandler cut their price target on shares of Camden Property Trust from $130.00 to $117.00 and set a "neutral" rating on the stock in a research report on Monday. Truist Financial set a $131.00 price target on shares of Camden Property Trust and gave the stock a "buy" rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Camden Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Barclays boosted their price objective on shares of Camden Property Trust from $136.00 to $137.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $127.83.

Insider Activity

In related news, Director Steven A. Webster sold 1,200 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $118.76, for a total transaction of $142,512.00. Following the sale, the director owned 117,374 shares in the company, valued at approximately $13,939,336.24. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

Camden Property Trust Company 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.