Victory Capital Management Inc. Cuts Stake in Camden Property Trust (NYSE:CPT)

Victory Capital Management Inc. cut its stake in shares of Camden Property Trust (NYSE:CPT - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,341,279 shares of the real estate investment trust's stock after selling 59,567 shares during the period. Camden Property Trust makes up 0.5% of Victory Capital Management Inc.'s investment portfolio, making the stock its 18th biggest holding. Victory Capital Management Inc. owned 3.99% of Camden Property Trust worth $530,938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPT. Bellwether Advisors LLC acquired a new position in Camden Property Trust during the 4th quarter worth approximately $31,000. Tsfg LLC acquired a new stake in Camden Property Trust during the 1st quarter valued at $40,000. Allworth Financial LP grew its holdings in Camden Property Trust by 47.4% during 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 last quarter. Catalyst Capital Advisors LLC acquired a new stake in Camden Property Trust during the 1st quarter valued at $64,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Camden Property Trust by 220.7% during the 4th quarter. Jones Financial Companies Lllp now owns 558 shares of the real estate investment trust's stock worth $65,000 after purchasing an additional 384 shares during the period. 97.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Camden Property Trust

In related news, CEO Richard J. Campo sold 5,572 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total transaction of $665,854.00. Following the sale, the chief executive officer directly owned 289,720 shares in the company, valued at $34,621,540. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven A. Webster sold 1,200 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the completion of the transaction, the director owned 117,374 shares in the company, valued at $13,939,336.24. This trade represents a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Camden Property Trust Stock Down 0.4%

Camden Property Trust stock traded down $0.45 during mid-day trading on Friday, reaching $113.70. The company's stock had a trading volume of 117,961 shares, compared to its average volume of 947,699. The business's 50 day simple moving average is $115.58 and its 200 day simple moving average is $116.00. Camden Property Trust has a 12 month low of $102.35 and a 12 month high of $127.69. The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of 104.36, a price-to-earnings-growth ratio of 3.78 and a beta of 0.77. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.19 and a current ratio of 0.19.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.04. Camden Property Trust had a net margin of 7.62% and a return on equity of 2.47%. The company had revenue of $390.57 million during the quarter, compared to analysts' expectations of $388.47 million. During the same quarter last year, the company posted $1.70 EPS. Camden Property Trust's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Monday, June 30th. Camden Property Trust's dividend payout ratio (DPR) is presently 385.32%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen downgraded Camden Property Trust from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Barclays set a $137.00 price target on Camden Property Trust and gave the stock an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a research note on Tuesday, June 17th. UBS Group cut 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. Finally, Scotiabank cut their price target on 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Camden Property Trust presently has an average rating of "Hold" and an average target price of $129.28.

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.