iA Global Asset Management Inc. Sells 3,422 Shares of Camden Property Trust (NYSE:CPT)

Key Points

• iA Global Asset Management Inc. reduced its holdings in Camden Property Trust by 47.9%, selling 3,422 shares, and now owns 3,717 shares worth approximately $455,000.
• Several hedge funds, including Argent Trust Co. and PNC Financial Services Group Inc., have made new investments or increased their stakes in Camden Property Trust during the first quarter.
• Analysts have mixed views on Camden Property Trust, with target price adjustments ranging from $114 to $137, indicating a general trend towards cautious outlooks rather than strong buy recommendations.

iA Global Asset Management Inc. trimmed its position in shares of Camden Property Trust (NYSE:CPT - Free Report) by 47.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,717 shares of the real estate investment trust's stock after selling 3,422 shares during the period. iA Global Asset Management Inc.'s holdings in Camden Property Trust were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of 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 raised 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 in the last quarter. Jump Financial LLC boosted its holdings in 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 valued at $2,411,000 after purchasing an additional 5,051 shares in the last quarter. MQS Management LLC acquired a new stake in Camden Property Trust during the first quarter valued at approximately $1,421,000. Finally, Freestone Grove Partners LP acquired a new stake in Camden Property Trust during the fourth quarter valued at approximately $591,000. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Camden Property Trust Stock Performance

NYSE:CPT traded down $0.13 during mid-day trading on Tuesday, hitting $103.92. The stock had a trading volume of 114,972 shares, compared to its average volume of 984,487. Camden Property Trust has a twelve month low of $102.35 and a twelve month high of $127.69. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 72.67, a PEG ratio of 3.51 and a beta of 0.78. The company's 50 day simple moving average is $113.44 and its 200 day simple moving average is $115.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.18 and a current ratio of 0.18.

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, beating the consensus estimate of $1.69 by $0.01. Camden Property Trust had a net margin of 9.99% and a return on equity of 3.30%. The business had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.24 million. During the same period last year, the business posted $1.71 EPS. Camden Property Trust's revenue was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were issued 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 is presently 293.71%.

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 value of $142,512.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.90% of the company's stock.

Analyst Ratings Changes

CPT has been the topic of several recent analyst reports. Piper Sandler reduced their target price on Camden Property Trust from $130.00 to $117.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Mizuho reduced their target price on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Scotiabank reduced their target price on Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating on the stock in a report on Friday, June 13th. Truist Financial set a $131.00 price objective on shares of Camden Property Trust and gave the stock a "buy" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada decreased their price objective on shares of Camden Property Trust from $120.00 to $118.00 and set a "sector perform" rating on the stock in a report on Monday, August 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Camden Property Trust presently has a consensus 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.