Highland Capital Management LLC Raises Holdings in Camden Property Trust (NYSE:CPT)

Highland Capital Management LLC lifted its position in Camden Property Trust (NYSE:CPT - Free Report) by 41.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,107 shares of the real estate investment trust's stock after buying an additional 6,185 shares during the period. Highland Capital Management LLC's holdings in Camden Property Trust were worth $2,581,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Camden Property Trust by 4.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,292 shares of the real estate investment trust's stock valued at $2,237,000 after acquiring an additional 711 shares during the period. Illinois Municipal Retirement Fund grew its position in shares of Camden Property Trust by 18.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 27,476 shares of the real estate investment trust's stock worth $3,360,000 after buying an additional 4,355 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Camden Property Trust by 0.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 313,753 shares of the real estate investment trust's stock valued at $38,372,000 after acquiring an additional 879 shares in the last quarter. Security National Bank raised its position in Camden Property Trust by 1.9% during the first quarter. Security National Bank now owns 8,434 shares of the real estate investment trust's stock worth $1,031,000 after acquiring an additional 154 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of Camden Property Trust in the first quarter valued at about $650,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Stock Performance

NYSE:CPT traded up $0.41 on Wednesday, reaching $113.38. 824,463 shares of the company's stock were exchanged, compared to its average volume of 945,821. The stock has a fifty day simple moving average of $116.20 and a 200-day simple moving average of $116.19. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.19 and a quick ratio of 0.19. Camden Property Trust has a 52 week low of $102.35 and a 52 week high of $127.69. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 104.02, a P/E/G ratio of 3.41 and a beta of 0.77.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.04. The firm had revenue of $390.57 million for the quarter, compared to the consensus estimate of $388.47 million. Camden Property Trust had a net margin of 7.62% and a return on equity of 2.47%. The company's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.70 earnings per share. As a group, sell-side analysts predict that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Monday, June 30th. Camden Property Trust's dividend payout ratio (DPR) is currently 385.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CPT shares. Wall Street Zen lowered Camden Property Trust from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. 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. Mizuho decreased 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. Scotiabank reduced their price objective on Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating on the stock in a research report on Friday, June 13th. Finally, Citigroup upgraded shares of Camden Property Trust from a "neutral" rating to a "buy" rating and upped their price target for the company from $125.00 to $138.00 in a research report on Friday, March 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Camden Property Trust currently has an average rating of "Hold" and a consensus target price of $129.39.

Insider Buying and Selling

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

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.