Mirae Asset Global Investments Co. Ltd. Buys New Stake in Camden Property Trust $CPT

Key Points

• Mirae Asset Global Investments bought a new 26,133-share stake in Camden Property Trust during Q3, valued at approximately $2.53 million; institutional investors own 97.22% of the stock.
• Camden reported quarterly FFO of $1.71 per share, topping the $1.69 consensus, but revenue of $381.06 million missed estimates and fell 3.7% year over year.
• Shares were down 3.7%, while analysts’ consensus rating was Hold with a $111.62 price target. The REIT’s annualized dividend is $4.24 per share, a 4.2% yield.

Mirae Asset Global Investments Co. Ltd. bought a new position in Camden Property Trust (NYSE:CPT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 26,133 shares of the real estate investment trust's stock, valued at approximately $2,528,000.

Several other institutional investors also recently modified their holdings of the business. Kings Path Partners LLC purchased a new stake in shares of Camden Property Trust during the third quarter valued at approximately $29,000. James T. Borello RIA lifted its holdings in Camden Property Trust by 76.3% during the third quarter. James T. Borello RIA now owns 409 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 177 shares during the period. Summit Securities Group LLC boosted its position in Camden Property Trust by 169.6% in the first quarter. Summit Securities Group LLC now owns 426 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 268 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Camden Property Trust in the second quarter worth $55,000. Finally, Western Wealth Management LLC bought a new position in Camden Property Trust in the 1st quarter valued at $55,000. 97.22% of the stock is owned by institutional investors.

Camden Property Trust Trading Down 3.7%

NYSE:CPT opened at $99.83 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $10.04 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 7.39 and a beta of 0.75. The firm's 50 day moving average is $100.55 and its 200 day moving average is $105.83. Camden Property Trust has a 12 month low of $95.30 and a 12 month high of $119.81.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $1.71 EPS for the quarter, beating the consensus estimate of $1.69 by $0.02. Camden Property Trust had a return on equity of 26.99% and a net margin of 71.94%. The business had revenue of $381.06 million for the quarter, compared to the consensus estimate of $384.88 million. During the same quarter in the prior year, the business earned $1.70 earnings per share. Camden Property Trust's revenue for the quarter was down 3.7% on a year-over-year basis. Sell-side analysts expect that Camden Property Trust will post 6.75 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were paid a $1.06 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $4.24 annualized dividend and a dividend yield of 4.2%. Camden Property Trust's payout ratio is presently 140.40%.

Wall Street Analysts Forecast Growth

CPT has been the subject of several research analyst reports. Wall Street Zen raised Camden Property Trust from a "strong sell" rating to a "sell" rating in a research report on Saturday. JPMorgan Chase & Co. boosted their price target on shares of Camden Property Trust from $113.00 to $114.00 and gave the stock a "neutral" rating in a report on Thursday, August 13th. Morgan Stanley cut their price target on shares of Camden Property Trust from $120.00 to $118.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 12th. Piper Sandler reduced their price target on shares of Camden Property Trust from $119.00 to $102.00 and set a "neutral" rating for the company in a research report on Monday, October 12th. Finally, Cantor Fitzgerald raised their price objective on shares of Camden Property Trust from $102.00 to $111.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $111.62.

Key Headlines Impacting Camden Property Trust

Here are the key news stories impacting Camden Property Trust this week:

• Positive Sentiment: Q3 funds from operations (FFO) were $1.71 per share, topping the $1.69 consensus and rising from $1.70 a year earlier. The company also cited improving leasing trends and lower property expenses. Camden Property's Q3 FFO Beats Estimates as Leasing Trends Improve
• Neutral Sentiment: Camden forecast Q4 core FFO of $1.63–$1.67 per share; the available report did not provide a comparable analyst estimate to gauge whether the outlook is above or below expectations. Camden Property Trust Q4 Core FFO Guidance
• Negative Sentiment: Revenue was $381.06 million, below analysts’ $384.88 million estimate and down 3.7% year over year. Reports also flagged weakness in same-property NOI, tempering the FFO beat and raising concerns about operating momentum. Camden Property Q3 FFO Higher, Revenue Lower; Issues Guidance

Camden Property Trust Profile

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas.

Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.

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