Kestra Private Wealth Services LLC Takes Position in Camden Property Trust (NYSE:CPT)

Key Points

• Kestra Private Wealth Services LLC has acquired a new stake in Camden Property Trust, purchasing 3,000 shares valued at approximately $367,000.
• CEO Richard J. Campo sold 5,572 shares of Camden Property Trust's stock, marking a 1.89% decrease in his ownership position.
• Camden Property Trust reported a quarterly EPS of $1.72, surpassing analyst expectations, and announced a quarterly dividend of $1.05, representing a 3.70% yield.

Kestra Private Wealth Services LLC acquired a new stake in Camden Property Trust (NYSE:CPT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,000 shares of the real estate investment trust's stock, valued at approximately $367,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. increased its position in shares of Camden Property Trust by 17.3% in the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust's stock valued at $344,432,000 after buying an additional 438,685 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Camden Property Trust by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 2,816,260 shares of the real estate investment trust's stock valued at $326,032,000 after buying an additional 76,429 shares in the last quarter. Centersquare Investment Management LLC increased its position in shares of Camden Property Trust by 15.9% in the fourth quarter. Centersquare Investment Management LLC now owns 2,522,398 shares of the real estate investment trust's stock valued at $292,699,000 after buying an additional 345,331 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Camden Property Trust by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 2,078,944 shares of the real estate investment trust's stock valued at $241,241,000 after buying an additional 104,102 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Camden Property Trust in the fourth quarter valued at approximately $187,606,000. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Camden Property Trust

In other news, CEO Richard J. Campo sold 5,572 shares of the company's stock in a transaction 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 transaction, the chief executive officer owned 289,720 shares of the company's stock, valued at $34,621,540. This represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven A. Webster sold 1,200 shares of the 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 transaction, the director directly owned 117,374 shares in the company, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company's stock.

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock opened at $113.53 on Friday. Camden Property Trust has a 52 week low of $102.35 and a 52 week high of $127.69. The business's fifty day simple moving average is $115.14 and its 200-day simple moving average is $116.02. The firm has a market cap of $12.13 billion, a PE ratio of 104.16, a price-to-earnings-growth ratio of 3.76 and a beta of 0.77. 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 (NYSE:CPT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 EPS for the quarter, beating 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 analyst estimates of $388.47 million. During the same quarter in the prior year, the company posted $1.70 EPS. The company's quarterly revenue was up 2.0% on a year-over-year basis. Equities 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. Stockholders of record on Monday, June 30th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Monday, June 30th. Camden Property Trust's dividend payout ratio (DPR) is presently 385.32%.

Analysts Set New Price Targets

A number of research firms have recently commented on CPT. Wall Street Zen cut Camden Property Trust from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Barclays lifted their price target on Camden Property Trust from $136.00 to $137.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Mizuho lowered their price target on 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. Scotiabank lowered their price target on Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating on the stock in a research note on Friday, June 13th. Finally, JPMorgan Chase & Co. lifted their price target 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 issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $129.28.

Camden Property Trust Company 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.

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