Jennison Associates LLC Boosts Stock Holdings in Camden Property Trust (NYSE:CPT)

Jennison Associates LLC boosted its stake in shares of Camden Property Trust (NYSE:CPT - Free Report) by 17.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 541,096 shares of the real estate investment trust's stock after acquiring an additional 79,592 shares during the quarter. Jennison Associates LLC owned approximately 0.50% of Camden Property Trust worth $66,176,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CPT. Federated Hermes Inc. raised its stake in Camden Property Trust by 6.5% in the fourth quarter. Federated Hermes Inc. now owns 1,466 shares of the real estate investment trust's stock valued at $170,000 after purchasing an additional 90 shares in the last quarter. Country Club Bank raised its stake in Camden Property Trust by 0.4% in the first quarter. Country Club Bank now owns 26,200 shares of the real estate investment trust's stock valued at $3,204,000 after purchasing an additional 92 shares in the last quarter. Amalgamated Bank raised its stake in Camden Property Trust by 0.5% during the first quarter. Amalgamated Bank now owns 20,558 shares of the real estate investment trust's stock worth $2,514,000 after acquiring an additional 93 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Camden Property Trust by 0.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,117 shares of the real estate investment trust's stock worth $2,102,000 after acquiring an additional 98 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Camden Property Trust by 8.5% during the first quarter. Signaturefd LLC now owns 1,333 shares of the real estate investment trust's stock worth $163,000 after acquiring an additional 104 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CPT shares. Citigroup raised Camden Property Trust from a "neutral" rating to a "buy" rating and upped their target price for the stock from $125.00 to $138.00 in a research report on Friday, March 28th. JPMorgan Chase & Co. increased their price target on Camden Property Trust from $127.00 to $129.00 and gave the company an "underweight" rating in a research report on Tuesday, June 17th. Truist Financial set a $131.00 target price on shares of Camden Property Trust and gave the stock a "buy" rating in a research note on Monday, May 19th. UBS Group dropped their price target on shares of Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Finally, 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $129.28.

Insider Buying and Selling

In other news, Director Steven A. Webster sold 1,200 shares of the 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 directly owned 117,374 shares in the company, valued at approximately $13,939,336.24. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard J. Campo sold 5,572 shares of the stock in a transaction on Tuesday, May 6th. The shares were 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. Corporate insiders own 1.90% of the company's stock.

Camden Property Trust Trading Up 2.3%

Shares of CPT stock traded up $2.57 during trading hours on Tuesday, reaching $115.81. The company's stock had a trading volume of 525,208 shares, compared to its average volume of 949,588. The stock has a market capitalization of $12.37 billion, a P/E ratio of 106.24, a P/E/G ratio of 3.75 and a beta of 0.77. Camden Property Trust has a one year low of $102.35 and a one year high of $127.69. The firm's fifty day simple moving average is $115.36 and its 200 day simple moving average is $115.96. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.80.

Camden Property Trust (NYSE:CPT - Get Free Report) last released 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 return on equity of 2.47% and a net margin of 7.62%. The business had revenue of $390.57 million for the quarter, compared to the consensus estimate of $388.47 million. During the same period in the previous year, the company posted $1.70 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts expect that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Monday, June 30th. 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.