Vanguard Group Inc. Has $2.10 Billion Stock Position in Camden Property Trust (NYSE:CPT)

Key Points

• Vanguard Group Inc. reduced its stake in Camden Property Trust by 0.5%, owning approximately 15.78% of the company's stock, worth about $2.1 billion.
• Several hedge funds, including Federated Hermes and FIL Ltd, have increased their holdings in Camden Property Trust, highlighting a strong interest from institutional investors.
• Camden Property Trust recently announced a quarterly dividend of $1.05, reflecting a 4.0% dividend yield, despite a high dividend payout ratio of 293.71%.

Vanguard Group Inc. lowered its position in shares of Camden Property Trust (NYSE:CPT - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,172,446 shares of the real estate investment trust's stock after selling 77,960 shares during the quarter. Vanguard Group Inc. owned 15.78% of Camden Property Trust worth $2,100,190,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bellwether Advisors LLC acquired a new position in Camden Property Trust during the 4th quarter worth approximately $31,000. Tsfg LLC acquired a new position in shares of Camden Property Trust during the 1st quarter worth approximately $40,000. Allworth Financial LP increased its position in shares of Camden Property Trust by 47.4% during the 1st quarter. Allworth Financial LP now owns 491 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 158 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Camden Property Trust during the 1st quarter worth approximately $64,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Camden Property Trust during the 1st quarter worth approximately $73,000. Institutional investors and hedge funds own 97.22% of the company's stock.

Insider Activity

In other news, Director Steven A. Webster sold 1,200 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the completion of the transaction, the director directly owned 117,374 shares in the company, valued at $13,939,336.24. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Camden Property Trust Price Performance

CPT traded up $0.82 on Tuesday, reaching $104.87. The stock had a trading volume of 786,913 shares, compared to its average volume of 926,432. Camden Property Trust has a fifty-two week low of $102.35 and a fifty-two week high of $127.69. The firm has a 50-day moving average of $113.18 and a 200-day moving average of $115.72. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 73.34, a price-to-earnings-growth ratio of 3.53 and a beta of 0.78.

Camden Property Trust (NYSE:CPT - Get Free Report) last issued 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 return on equity of 3.30% and a net margin of 9.99%. The business had revenue of $396.51 million during the quarter, compared to analysts' expectations of $393.24 million. During the same quarter in the prior year, the firm earned $1.71 EPS. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, June 30th. Camden Property Trust's dividend payout ratio (DPR) is 293.71%.

Analysts Set New Price Targets

Several research analysts have weighed in on CPT shares. Mizuho lowered 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. Barclays lowered their price target on Camden Property Trust from $137.00 to $128.00 and set an "overweight" rating on the stock in a research report on Tuesday. Piper Sandler reduced their target price on Camden Property Trust from $130.00 to $117.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Wall Street Zen upgraded Camden Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Evercore ISI cut their target price on Camden Property Trust from $117.00 to $114.00 and set an "in-line" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $126.94.

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.