Nuveen LLC Takes $123.88 Million Position in Camden Property Trust (NYSE:CPT)

Key Points

• Nuveen LLC has acquired a new stake in Camden Property Trust, purchasing over 1 million shares valued at approximately $123.88 million, representing around 0.95% ownership in the company.
• Camden Property Trust recently reported $1.70 EPS for the quarter, slightly surpassing estimates, with revenue increasing 2.4% year-over-year.
• The company has declared a quarterly dividend of $1.05 per share, yielding 4.0%, while its dividend payout ratio stands at 293.71%.

Nuveen LLC acquired a new stake in Camden Property Trust (NYSE:CPT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,012,934 shares of the real estate investment trust's stock, valued at approximately $123,882,000. Nuveen LLC owned 0.95% of Camden Property Trust at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bellwether Advisors LLC purchased a new stake in Camden Property Trust in the 4th quarter valued at about $31,000. Tsfg LLC purchased a new stake in Camden Property Trust in the 1st quarter valued at about $40,000. Allworth Financial LP raised its holdings 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 valued at $56,000 after buying an additional 158 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Camden Property Trust during the first quarter worth about $64,000. Finally, Intact Investment Management Inc. purchased a new stake in Camden Property Trust during the first quarter worth about $73,000. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CPT. Royal Bank Of Canada cut their price target on shares of 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. Scotiabank reiterated a "sector perform" rating and set a $133.00 price target (down from $136.00) on shares of Camden Property Trust in a research note on Thursday. 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 research note on Monday, August 4th. Morgan Stanley cut their price target on shares of Camden Property Trust from $130.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, 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 research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $124.94.

Camden Property Trust Stock Up 0.8%

CPT traded up $0.80 on Friday, reaching $106.82. The company's stock had a trading volume of 789,492 shares, compared to its average volume of 975,966. The stock has a 50 day moving average of $112.59 and a two-hundred day moving average of $115.60. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 74.70, a P/E/G ratio of 3.63 and a beta of 0.78. Camden Property Trust has a fifty-two week low of $102.35 and a fifty-two week high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.01. The firm had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.24 million. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.71 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, June 30th. Camden Property Trust's dividend 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.