Sun Life Financial Inc. Reduces Stake in Camden Property Trust (NYSE:CPT)

Sun Life Financial Inc. reduced its stake in shares of Camden Property Trust (NYSE:CPT - Free Report) by 92.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,840 shares of the real estate investment trust's stock after selling 199,944 shares during the period. Camden Property Trust comprises 0.3% of Sun Life Financial Inc.'s investment portfolio, making the stock its 12th biggest position. Sun Life Financial Inc.'s holdings in Camden Property Trust were worth $1,573,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPT. Parkside Financial Bank & Trust boosted its holdings in Camden Property Trust by 60.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 381 shares of the real estate investment trust's stock worth $36,000 after buying an additional 144 shares during the period. Tobam boosted its holdings in Camden Property Trust by 4,166.7% in the 4th quarter. Tobam now owns 384 shares of the real estate investment trust's stock worth $38,000 after buying an additional 375 shares during the period. Federated Hermes Inc. bought a new position in Camden Property Trust in the 3rd quarter worth approximately $69,000. Cetera Trust Company N.A bought a new position in Camden Property Trust in the 4th quarter worth approximately $116,000. Finally, Canton Hathaway LLC bought a new position in Camden Property Trust in the 4th quarter worth approximately $149,000. 97.22% of the stock is owned by institutional investors.

Camden Property Trust Stock Performance

Camden Property Trust stock traded down $0.17 during midday trading on Friday, reaching $106.66. 629,947 shares of the company traded hands, compared to its average volume of 1,101,586. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 3.94 and a beta of 0.82. The business has a 50 day moving average of $98.87 and a two-hundred day moving average of $95.63. Camden Property Trust has a 12 month low of $82.81 and a 12 month high of $114.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.43 and a quick ratio of 0.88.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CPT. Morgan Stanley raised their price objective on shares of Camden Property Trust from $95.00 to $98.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. The Goldman Sachs Group assumed coverage on shares of Camden Property Trust in a report on Thursday, February 22nd. They issued a "buy" rating and a $112.00 price target for the company. StockNews.com raised shares of Camden Property Trust from a "sell" rating to a "hold" rating in a report on Tuesday, April 30th. Mizuho raised their price target on shares of Camden Property Trust from $99.00 to $111.00 and gave the company a "buy" rating in a report on Monday. Finally, Wedbush raised their price target on shares of Camden Property Trust from $110.00 to $118.00 and gave the company an "outperform" rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Camden Property Trust presently has an average rating of "Hold" and an average target price of $107.06.

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 58,634 apartment homes across the United States.

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