New Age Alpha Advisors LLC Sells 4,872 Shares of Camden Property Trust (NYSE:CPT)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Camden Property Trust by 56.0%, owning 3,830 shares after selling 4,872 shares in the first quarter.
• Camden Property Trust reported earnings of $1.70 per share, slightly exceeding analysts' expectations, with revenue of $396.51 million for the quarter.
• The company recently declared a quarterly dividend of $1.05 per share, representing a yield of 4.0% annually, despite a high dividend payout ratio of 293.71%.

New Age Alpha Advisors LLC lowered its stake in Camden Property Trust (NYSE:CPT - Free Report) by 56.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,830 shares of the real estate investment trust's stock after selling 4,872 shares during the quarter. New Age Alpha Advisors LLC's holdings in Camden Property Trust were worth $468,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC grew its position in Camden Property Trust by 12,973.9% in the 1st quarter. GAMMA Investing LLC now owns 403,590 shares of the real estate investment trust's stock valued at $49,359,000 after purchasing an additional 400,503 shares during the period. Northern Trust Corp boosted its holdings in Camden Property Trust by 33.7% during the 4th quarter. Northern Trust Corp now owns 1,420,076 shares of the real estate investment trust's stock worth $164,786,000 after acquiring an additional 357,718 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Camden Property Trust by 43.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 749,607 shares of the real estate investment trust's stock worth $86,984,000 after acquiring an additional 225,336 shares during the last quarter. Landmark Investment Partners L.P. purchased a new position in shares of Camden Property Trust in the 4th quarter worth about $25,237,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Camden Property Trust in the 4th quarter worth about $23,972,000. Institutional investors and hedge funds own 97.22% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of Camden Property Trust from $130.00 to $117.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Truist Financial set a $131.00 price target on shares of Camden Property Trust and gave the stock a "buy" rating in a report on Monday, May 19th. UBS Group cut their price target on shares of Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Evercore ISI cut their price target on shares of Camden Property Trust from $117.00 to $114.00 and set an "in-line" rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $126.94.

Camden Property Trust Stock Up 0.8%

CPT traded up $0.82 during trading on Tuesday, reaching $104.87. The stock had a trading volume of 689,957 shares, compared to its average volume of 988,296. The stock's 50 day moving average is $113.44 and its two-hundred day moving average is $115.80. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 73.34, a P/E/G ratio of 3.51 and a beta of 0.78. Camden Property Trust has a one year low of $102.35 and a one year high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share for the quarter, beating 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 firm had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.24 million. During the same period last year, the company earned $1.71 earnings per share. The company's revenue was up 2.4% on a year-over-year basis. As a group, analysts expect that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Dividend Announcement

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

Insider Transactions at Camden Property Trust

In related news, Director Steven A. Webster sold 1,200 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $118.76, for a total value of $142,512.00. Following the completion of the sale, the director directly owned 117,374 shares of the company's stock, valued at approximately $13,939,336.24. This represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company's stock.

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.