Centersquare Investment Management LLC Acquires 91,752 Shares of Camden Property Trust (NYSE:CPT)

Key Points

• Centersquare Investment Management LLC increased its stake in Camden Property Trust by 3.6% in the first quarter, owning approximately 2.40% of the company valued at $319.7 million.
• Camden Property Trust's stock was recently rated with a consensus of "Hold", while its price target averages around $127.65 according to several analysts.
• The company declared a quarterly dividend of $1.05 per share, resulting in an annualized yield of 3.9% amid a payout ratio of 293.71%.

Centersquare Investment Management LLC lifted its position in Camden Property Trust (NYSE:CPT - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,614,150 shares of the real estate investment trust's stock after acquiring an additional 91,752 shares during the period. Camden Property Trust comprises approximately 3.3% of Centersquare Investment Management LLC's holdings, making the stock its 9th largest position. Centersquare Investment Management LLC owned approximately 2.40% of Camden Property Trust worth $319,711,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in Camden Property Trust by 33.7% during the fourth quarter. Northern Trust Corp now owns 1,420,076 shares of the real estate investment trust's stock worth $164,786,000 after buying an additional 357,718 shares in the last quarter. Natixis increased its stake in shares of 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 buying an additional 15,916 shares during the period. Jump Financial LLC raised its stake in shares of Camden Property Trust by 32.1% during the fourth 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 during the last quarter. MQS Management LLC acquired a new position in Camden Property Trust in the first quarter valued at about $1,421,000. Finally, Freestone Grove Partners LP bought a new position in shares of Camden Property Trust during the fourth quarter worth $591,000. 97.22% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Camden Property Trust news, Director Steven A. Webster sold 1,200 shares of the firm's 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company's stock.

Camden Property Trust Trading Up 0.5%

Shares of NYSE:CPT traded up $0.50 during mid-day trading on Thursday, reaching $106.97. 753,585 shares of the company's stock were exchanged, compared to its average volume of 928,260. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.19 and a current ratio of 0.18. Camden Property Trust has a twelve month low of $102.35 and a twelve month high of $127.69. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 74.80, a PEG ratio of 3.54 and a beta of 0.78. The business's fifty day moving average price is $113.95 and its 200-day moving average price is $115.82.

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 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $396.51 million for the quarter, compared to the consensus estimate of $393.24 million. During the same period in the previous year, the business earned $1.71 EPS. The business's quarterly 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 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. This represents a $4.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, June 30th. Camden Property Trust's dividend payout ratio is currently 293.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CPT shares. Mizuho dropped their target price 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. Royal Bank Of Canada cut their price objective on shares of Camden Property Trust from $120.00 to $118.00 and set a "sector perform" rating for the company in a report on Monday. Evercore ISI reduced their target price on Camden Property Trust from $124.00 to $117.00 and set an "in-line" rating on the stock in a report on Monday. Truist Financial set a $131.00 target price on Camden Property Trust and gave the company a "buy" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Camden Property Trust has a consensus rating of "Hold" and an average target price of $127.65.

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.