Envestnet Asset Management Inc. Sells 7,972 Shares of Camden Property Trust (NYSE:CPT)

Envestnet Asset Management Inc. lowered its position in Camden Property Trust (NYSE:CPT - Free Report) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,468 shares of the real estate investment trust's stock after selling 7,972 shares during the period. Envestnet Asset Management Inc. owned about 0.20% of Camden Property Trust worth $26,107,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CPT. Bellwether Advisors LLC bought a new position in Camden Property Trust during the 4th quarter worth about $31,000. Tsfg LLC bought a new position in shares of Camden Property Trust in the 1st quarter valued at about $40,000. Catalyst Capital Advisors LLC bought a new position in shares of Camden Property Trust in the 1st quarter valued at about $64,000. Jones Financial Companies Lllp lifted its stake in Camden Property Trust by 220.7% in the 4th quarter. Jones Financial Companies Lllp now owns 558 shares of the real estate investment trust's stock valued at $65,000 after purchasing an additional 384 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in Camden Property Trust in the 1st quarter valued at about $73,000. Institutional investors own 97.22% of the company's stock.

Wall Street Analyst Weigh In

CPT has been the subject of several recent analyst reports. UBS Group cut their target price on shares of Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating for the company in a research note on Tuesday. Wall Street Zen downgraded shares of Camden Property Trust from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Mizuho cut their price objective on shares of Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Scotiabank cut their price objective on shares of Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating for the company in a research report on Friday, June 13th. Finally, JPMorgan Chase & Co. raised 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. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $129.28.

Insiders Place Their Bets

In other Camden Property Trust news, CEO Richard J. Campo sold 5,572 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total transaction of $665,854.00. Following the sale, the chief executive officer owned 289,720 shares of the company's stock, valued at approximately $34,621,540. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Webster sold 1,200 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the sale, the director directly owned 117,374 shares in the company, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Camden Property Trust Stock Performance

Shares of CPT traded up $0.20 during mid-day trading on Friday, hitting $114.35. 217,353 shares of the company's stock were exchanged, compared to its average volume of 948,106. Camden Property Trust has a 52 week low of $102.35 and a 52 week high of $127.69. The stock's 50-day simple moving average is $115.58 and its 200-day simple moving average is $116.00. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 104.89, a price-to-earnings-growth ratio of 3.78 and a beta of 0.77. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.80.

Camden Property Trust (NYSE:CPT - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 EPS 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 for the quarter, compared to analysts' expectations of $388.47 million. During the same period last year, the firm earned $1.70 earnings per share. The business's revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were paid 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 dividend yield of 3.67%. Camden Property Trust's payout ratio is presently 385.32%.

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.