Johnson Investment Counsel Inc. Reduces Stock Holdings in Camden Property Trust (NYSE:CPT)

Johnson Investment Counsel Inc. trimmed its position in shares of Camden Property Trust (NYSE:CPT - Free Report) by 13.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,606 shares of the real estate investment trust's stock after selling 2,713 shares during the period. Johnson Investment Counsel Inc.'s holdings in Camden Property Trust were worth $2,153,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Camden Property Trust in the 4th quarter valued at $187,606,000. Invesco Ltd. grew its stake in shares of Camden Property Trust by 17.3% during 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 increased its holdings in Camden Property Trust by 12,973.9% in the first 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 during the last quarter. Northern Trust Corp raised its stake in Camden Property Trust by 33.7% in the fourth 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 lifted its holdings in Camden Property Trust by 15.9% during 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 last quarter. Institutional investors and hedge funds own 97.22% of the company's stock.

Wall Street Analyst Weigh In

CPT has been the topic of a number of recent analyst reports. Mizuho dropped their price objective 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. JPMorgan Chase & Co. upped their price target on Camden Property Trust from $127.00 to $129.00 and gave the company an "underweight" rating in a report on Tuesday, June 17th. 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. Jefferies Financial Group upgraded shares of Camden Property Trust from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $117.00 to $139.00 in a research report on Monday, March 10th. Finally, Barclays increased their target price on shares of Camden Property Trust from $127.00 to $136.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $129.39.

Camden Property Trust Stock Performance

CPT traded down $0.71 on Tuesday, hitting $115.55. 924,883 shares of the company traded hands, compared to its average volume of 926,134. Camden Property Trust has a 12-month low of $102.35 and a 12-month high of $127.69. The company has a 50 day moving average of $115.95 and a 200-day moving average of $116.47. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $12.35 billion, a PE ratio of 106.01, a PEG ratio of 3.50 and a beta of 0.78.

Camden Property Trust (NYSE:CPT - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations of $388.47 million. During the same quarter in the prior year, the business earned $1.70 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Monday, June 30th. Camden Property Trust's dividend payout ratio (DPR) is presently 385.32%.

Insider Activity

In related news, Director Steven A. Webster sold 1,200 shares of the firm's stock in a transaction dated 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 now owns 117,374 shares in the company, valued at $13,939,336.24. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Campo sold 5,572 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total transaction of $665,854.00. Following the sale, the chief executive officer now directly owns 289,720 shares in the company, valued at approximately $34,621,540. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company's stock.

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.