Ontario Teachers Pension Plan Board Purchases 19,263 Shares of Camden Property Trust (NYSE:CPT)

Key Points

• Ontario Teachers Pension Plan Board significantly increased its investment in Camden Property Trust by 95.1%, owning 39,525 shares valued at approximately $4.83 million as of the latest quarter.
• Recent research reports show mixed ratings for Camden Property Trust, with Piper Sandler and Scotiabank lowering their price targets, while Truist Financial maintains a "buy" rating.
• The company declared a quarterly dividend of $1.05 per share, resulting in a 3.9% yield for shareholders, despite a high payout ratio of 293.71%.

Ontario Teachers Pension Plan Board lifted its holdings in shares of Camden Property Trust (NYSE:CPT - Free Report) by 95.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,525 shares of the real estate investment trust's stock after purchasing an additional 19,263 shares during the period. Ontario Teachers Pension Plan Board's holdings in Camden Property Trust were worth $4,834,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CPT. LPL Financial LLC lifted its holdings in shares of Camden Property Trust by 13.9% during the fourth quarter. LPL Financial LLC now owns 32,573 shares of the real estate investment trust's stock worth $3,780,000 after purchasing an additional 3,974 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Camden Property Trust in the fourth quarter valued at $371,000. Federated Hermes Inc. lifted its holdings in Camden Property Trust by 6.5% in the fourth quarter. Federated Hermes Inc. now owns 1,466 shares of the real estate investment trust's stock valued at $170,000 after buying an additional 90 shares during the period. Invesco Ltd. lifted its holdings in Camden Property Trust by 17.3% in the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust's stock valued at $344,432,000 after buying an additional 438,685 shares during the period. Finally, FIL Ltd lifted its holdings in Camden Property Trust by 1,418.5% in the fourth quarter. FIL Ltd now owns 96,713 shares of the real estate investment trust's stock valued at $11,223,000 after buying an additional 90,344 shares during the period. Institutional investors and hedge funds own 97.22% of the company's stock.

Insider Activity at Camden Property Trust

In other news, Director Steven A. Webster sold 1,200 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $118.76, for a total transaction of $142,512.00. Following the completion of the sale, the director directly owned 117,374 shares of the company's stock, valued at $13,939,336.24. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by insiders.

Camden Property Trust Stock Down 1.3%

CPT traded down $1.44 during midday trading on Friday, hitting $105.53. The company had a trading volume of 646,339 shares, compared to its average volume of 922,612. The company has a quick ratio of 0.19, a current ratio of 0.18 and a debt-to-equity ratio of 0.82. The stock's 50 day moving average price is $113.71 and its 200 day moving average price is $115.77. The company has a market capitalization of $11.28 billion, a price-to-earnings ratio of 73.80, a PEG ratio of 3.56 and a beta of 0.78. Camden Property Trust has a 52 week low of $102.35 and a 52 week high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its 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 company had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.24 million. Camden Property Trust had a net margin of 9.99% and a return on equity of 3.30%. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.71 earnings per share. On average, research analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Announces Dividend

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

Wall Street Analyst Weigh In

CPT has been the topic of several recent analyst reports. Piper Sandler dropped their target price 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. Barclays boosted their target price on shares of Camden Property Trust from $136.00 to $137.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. UBS Group dropped their target price 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. Scotiabank dropped their target price on shares of Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating on the stock in a report on Friday, June 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Camden Property Trust from $127.00 to $129.00 and gave the company an "underweight" rating in a report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $127.65.

Camden Property Trust Company Profile

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.