Illinois Municipal Retirement Fund Raises Stock Position in Camden Property Trust (NYSE:CPT)

Illinois Municipal Retirement Fund lifted its position in shares of Camden Property Trust (NYSE:CPT - Free Report) by 18.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,476 shares of the real estate investment trust's stock after buying an additional 4,355 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Camden Property Trust were worth $3,360,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Smartleaf Asset Management LLC boosted its holdings in Camden Property Trust by 33.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 531 shares of the real estate investment trust's stock valued at $61,000 after acquiring an additional 132 shares during the last quarter. Inceptionr LLC bought a new stake in Camden Property Trust in the fourth quarter valued at $621,000. Northern Trust Corp grew its holdings in Camden Property Trust by 33.7% in the 4th 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. Victory Capital Management Inc. boosted its stake in Camden Property Trust by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust's stock valued at $510,674,000 after purchasing an additional 277,117 shares in the last quarter. Finally, Natixis raised its holdings 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 worth $2,096,000 after purchasing an additional 15,916 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Camden Property Trust

In other Camden Property Trust news, CEO Richard J. Campo sold 5,572 shares of the company'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 owned 289,720 shares in the company, valued at approximately $34,621,540. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven A. Webster sold 1,200 shares of the business'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 value of $142,512.00. Following the completion of the sale, the director owned 117,374 shares of the company's stock, valued at $13,939,336.24. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CPT. Barclays increased their price objective on Camden Property Trust from $127.00 to $136.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Mizuho lowered their target price on shares of Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Truist Financial set a $131.00 price objective on Camden Property Trust and gave the company a "buy" rating in a research report on Monday, May 19th. Citigroup raised shares of Camden Property Trust from a "neutral" rating to a "buy" rating and raised their target price for the company from $125.00 to $138.00 in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. raised their price objective on Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a research note on Tuesday, June 17th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $129.39.

Camden Property Trust Stock Performance

CPT traded up $0.34 during mid-day trading on Wednesday, reaching $113.31. 618,014 shares of the company traded hands, compared to its average volume of 1,009,521. 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 has a 52-week low of $102.35 and a 52-week high of $127.69. The stock has a market capitalization of $12.11 billion, a P/E ratio of 104.07, a P/E/G ratio of 3.41 and a beta of 0.77. The company's fifty day moving average price is $116.20 and its 200-day moving average price is $116.19.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. The company had revenue of $390.57 million during the quarter, compared to analysts' expectations of $388.47 million. Camden Property Trust had a net margin of 7.62% and a return on equity of 2.47%. Camden Property Trust's quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $1.70 earnings per share. On average, sell-side analysts expect that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.20 annualized dividend and a yield of 3.71%. Camden Property Trust's payout ratio is currently 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.