Camden Property Trust (NYSE:CPT) Shares Sold by Heartland Advisors Inc.

Key Points

• Heartland Advisors Inc. has reduced its stake in Camden Property Trust by 29.3%, now holding 123,772 shares worth approximately $15.14 million.
• Camden Property Trust recently announced a quarterly dividend of $1.05 per share, reflecting a 3.70% yield, though the dividend payout ratio stands at a high 385.32%.
• The company reported quarterly earnings of $1.72 EPS, exceeding consensus estimates, and its revenue grew 2% year-over-year to $390.57 million.

Heartland Advisors Inc. lessened its holdings in shares of Camden Property Trust (NYSE:CPT - Free Report) by 29.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,772 shares of the real estate investment trust's stock after selling 51,289 shares during the period. Camden Property Trust comprises approximately 0.9% of Heartland Advisors Inc.'s holdings, making the stock its 29th largest holding. Heartland Advisors Inc. owned about 0.11% of Camden Property Trust worth $15,137,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Camden Property Trust during the fourth quarter valued at approximately $187,606,000. Invesco Ltd. raised its holdings in Camden Property Trust by 17.3% in the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust's stock worth $344,432,000 after purchasing an additional 438,685 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Camden Property Trust by 12,973.9% during the 1st quarter. GAMMA Investing LLC now owns 403,590 shares of the real estate investment trust's stock valued at $49,359,000 after buying an additional 400,503 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Camden Property Trust by 33.7% during 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 buying an additional 357,718 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its position in shares of Camden Property Trust by 15.9% in the 4th quarter. Centersquare Investment Management LLC now owns 2,522,398 shares of the real estate investment trust's stock worth $292,699,000 after buying an additional 345,331 shares during the period. Hedge funds and other institutional investors own 97.22% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPT. Mizuho lowered their price objective on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Truist Financial set a $131.00 price target on Camden Property Trust and gave the stock a "buy" rating in a research report on Monday, May 19th. Wall Street Zen downgraded shares of Camden Property Trust from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Scotiabank reduced 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 note on Friday, June 13th. Finally, Barclays lifted their target price on shares of Camden Property Trust from $136.00 to $137.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $129.28.

Insider Activity at Camden Property Trust

In other Camden Property Trust news, Director Steven A. Webster sold 1,200 shares of Camden Property Trust stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $118.76, for a total value of $142,512.00. Following the sale, the director owned 117,374 shares of the company's stock, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Campo sold 5,572 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total value of $665,854.00. Following the sale, the chief executive officer directly owned 289,720 shares in the company, valued at $34,621,540. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Camden Property Trust Stock Up 1.6%

NYSE CPT traded up $1.77 during trading on Tuesday, reaching $114.00. 346,687 shares of the company's stock were exchanged, compared to its average volume of 973,569. The company has a 50 day moving average price of $115.00 and a two-hundred day moving average price of $116.07. The stock has a market cap of $12.18 billion, a P/E ratio of 104.56, a price-to-earnings-growth ratio of 3.76 and a beta of 0.77. Camden Property Trust has a 1 year low of $102.35 and a 1 year high of $127.69. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.19 and a current ratio of 0.19.

Camden Property Trust (NYSE:CPT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $390.57 million during the quarter, compared to analysts' expectations of $388.47 million. During the same period in the previous year, the company earned $1.70 earnings per share. Camden Property Trust's quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Monday, June 30th. Camden Property Trust's payout ratio is currently 385.32%.

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.