Mackenzie Financial Corp Raises Stock Holdings in Camden Property Trust (NYSE:CPT)

Mackenzie Financial Corp boosted its holdings in Camden Property Trust (NYSE:CPT - Free Report) by 151.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,069 shares of the real estate investment trust's stock after buying an additional 6,068 shares during the quarter. Mackenzie Financial Corp's holdings in Camden Property Trust were worth $1,231,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bellwether Advisors LLC purchased a new position in Camden Property Trust in the 4th quarter worth about $31,000. Tsfg LLC purchased a new position in Camden Property Trust in the 1st quarter worth about $40,000. Allworth Financial LP raised its position in Camden Property Trust by 47.4% in the 1st quarter. Allworth Financial LP now owns 491 shares of the real estate investment trust's stock worth $56,000 after buying an additional 158 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Camden Property Trust in the 1st quarter worth about $64,000. Finally, Intact Investment Management Inc. purchased a new position in Camden Property Trust in the 1st quarter worth about $73,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Camden Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday. Mizuho cut their price target on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Scotiabank cut their price target on Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating for the company in a research note on Friday, June 13th. Barclays boosted their price target on Camden Property Trust from $136.00 to $137.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Evercore ISI cut their price target on Camden Property Trust from $124.00 to $117.00 and set an "in-line" rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $127.83.

Insider Activity

In other news, Director Steven A. Webster sold 1,200 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the sale, the director directly owned 117,374 shares of the company's stock, valued at $13,939,336.24. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by company insiders.

Camden Property Trust Trading Down 1.1%

CPT stock opened at $105.81 on Tuesday. Camden Property Trust has a 1-year low of $102.35 and a 1-year high of $127.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.18 and a quick ratio of 0.19. The company has a market capitalization of $11.30 billion, a price-to-earnings ratio of 73.99, a PEG ratio of 3.55 and a beta of 0.78. The business has a 50 day simple moving average of $114.48 and a two-hundred day simple moving average of $115.98.

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

Camden Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, June 30th. Camden Property Trust's dividend payout ratio is 293.71%.

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.

Want to see what other hedge funds are holding CPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Camden Property Trust (NYSE:CPT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.