Camden Property Trust (NYSE:CPT) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Camden Property Trust by 9.6%, owning approximately $32.8 million worth of shares after acquiring an additional 23,440 shares in the first quarter.
• Camden Property Trust's quarterly earnings saw an EPS of $1.70, surpassing analyst expectations, with a reported revenue of $396.51 million, indicative of a 2.4% increase compared to the same quarter last year.
• The dividend announcement included a quarterly payment of $1.05 per share with an annualized yield of 4.0%, although the company's dividend payout ratio stands at a high 293.71%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Camden Property Trust (NYSE:CPT - Free Report) by 9.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 268,229 shares of the real estate investment trust's stock after acquiring an additional 23,440 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of Camden Property Trust worth $32,804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board raised its stake in shares of Camden Property Trust by 95.1% during the first quarter. Ontario Teachers Pension Plan Board now owns 39,525 shares of the real estate investment trust's stock worth $4,834,000 after acquiring an additional 19,263 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Camden Property Trust by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,538,038 shares of the real estate investment trust's stock worth $188,102,000 after acquiring an additional 23,488 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new stake in Camden Property Trust in the first quarter valued at approximately $397,000. Centersquare Investment Management LLC lifted its position in Camden Property Trust by 3.6% in the first quarter. Centersquare Investment Management LLC now owns 2,614,150 shares of the real estate investment trust's stock valued at $319,711,000 after purchasing an additional 91,752 shares during the last quarter. Finally, Argent Trust Co bought a new stake in Camden Property Trust in the first quarter valued at approximately $217,000. Institutional investors own 97.22% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays reduced their target price on Camden Property Trust from $137.00 to $128.00 and set an "overweight" rating on the stock in a research note on Tuesday. Royal Bank Of Canada reduced their price target on Camden Property Trust from $120.00 to $118.00 and set a "sector perform" rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a report on Tuesday, June 17th. Evercore ISI dropped their target price on Camden Property Trust from $117.00 to $114.00 and set an "in-line" rating on the stock in a report on Tuesday. Finally, Truist Financial set a $131.00 price objective on Camden Property Trust and gave the company a "buy" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $125.41.

Insiders Place Their Bets

In other news, Director Steven A. Webster sold 1,200 shares of the company's 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 sale, the director owned 117,374 shares in the company, valued at $13,939,336.24. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company's stock.

Camden Property Trust Stock Down 0.7%

NYSE CPT traded down $0.79 on Thursday, reaching $106.22. 464,020 shares of the stock traded hands, compared to its average volume of 986,335. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.18 and a current ratio of 0.18. The company has a fifty day moving average price of $112.96 and a 200-day moving average price of $115.66. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 74.24, a PEG ratio of 3.56 and a beta of 0.78. Camden Property Trust has a 12 month low of $102.35 and a 12 month high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 EPS for the quarter, topping the consensus estimate 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 revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 EPS. As a group, research analysts forecast that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Dividend Announcement

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