JPMorgan Chase & Co. Increases Position in Camden Property Trust (NYSE:CPT)

Key Points

• JPMorgan Chase & Co. increased its stake in Camden Property Trust (NYSE:CPT) by 17.2%, now owning 1,863,792 shares valued at approximately $227.94 million.
• Camden Property Trust recently declared a quarterly dividend of $1.05, translating to an annualized dividend of $4.20 and a yield of 3.9%.
• Analysts have mixed ratings on Camden Property Trust, with the consensus rating being "Hold" and a revised average price target of $125.59.

JPMorgan Chase & Co. raised its holdings in shares of Camden Property Trust (NYSE:CPT - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,863,792 shares of the real estate investment trust's stock after purchasing an additional 273,966 shares during the period. JPMorgan Chase & Co. owned approximately 1.74% of Camden Property Trust worth $227,942,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bellwether Advisors LLC purchased a new stake in Camden Property Trust during the 4th quarter valued at $31,000. Tsfg LLC purchased a new stake in Camden Property Trust during the 1st quarter valued at $40,000. Allworth Financial LP boosted its stake in Camden Property Trust by 47.4% during the 1st quarter. Allworth Financial LP now owns 491 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 158 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Camden Property Trust during the 1st quarter valued at $64,000. Finally, Intact Investment Management Inc. purchased a new stake in Camden Property Trust during the 1st quarter valued at $73,000. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Evercore ISI lowered their price target on Camden Property Trust from $117.00 to $114.00 and set an "in-line" rating on the stock in a report on Tuesday, August 12th. Royal Bank Of Canada lowered their price target on 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. Piper Sandler lowered their price target 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. Barclays lowered their price target on Camden Property Trust from $137.00 to $128.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Finally, Citigroup lowered their price target on Camden Property Trust from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Camden Property Trust has an average rating of "Hold" and an average target price of $124.94.

Camden Property Trust Price Performance

Shares of Camden Property Trust stock traded up $0.80 during trading on Friday, reaching $106.82. 789,492 shares of the stock traded hands, compared to its average volume of 975,966. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 74.70, a P/E/G ratio of 3.63 and a beta of 0.78. The business has a fifty day simple moving average of $112.59 and a two-hundred day simple moving average of $115.60. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.18 and a quick ratio of 0.18. Camden Property Trust has a 52-week low of $102.35 and a 52-week high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.01. The firm had revenue of $396.51 million during the quarter, compared to analyst estimates of $393.24 million. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.71 earnings per share. Sell-side analysts expect that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were given a $1.05 dividend. The ex-dividend date was Monday, June 30th. This represents a $4.20 annualized dividend and a yield of 3.9%. Camden Property Trust's dividend payout ratio (DPR) is currently 293.71%.

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.