State Board of Administration of Florida Retirement System Decreases Position in Camden Property Trust (NYSE:CPT)

State Board of Administration of Florida Retirement System lowered its stake in Camden Property Trust (NYSE:CPT) by 8.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 113,028 shares of the real estate investment trust’s stock after selling 10,952 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Camden Property Trust were worth $11,850,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Lindbrook Capital LLC grew its stake in shares of Camden Property Trust by 90.4% in the first quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 132 shares in the last quarter. Tobam grew its stake in shares of Camden Property Trust by 4,166.7% in the fourth quarter. Tobam now owns 384 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 375 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Camden Property Trust by 23.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 636 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 119 shares in the last quarter. Quarry LP grew its stake in Camden Property Trust by 1,081.5% during the 4th quarter. Quarry LP now owns 638 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 584 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Camden Property Trust by 99.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 758 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 377 shares in the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CPT shares. Piper Sandler upgraded Camden Property Trust from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $90.00 to $110.00 in a research note on Monday, May 6th. Scotiabank raised their price objective on Camden Property Trust from $104.00 to $108.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Truist Financial raised their price objective on Camden Property Trust from $114.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Royal Bank of Canada raised their price objective on Camden Property Trust from $107.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Finally, UBS Group raised their price objective on Camden Property Trust from $109.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $107.75.

Camden Property Trust Price Performance

Shares of CPT opened at $112.65 on Friday. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 4.42 and a beta of 0.88. Camden Property Trust has a 52 week low of $82.81 and a 52 week high of $115.66. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $107.45 and a 200-day moving average of $101.11.

Camden Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Friday, June 28th. Camden Property Trust’s dividend payout ratio (DPR) is 100.98%.

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 58,634 apartment homes across the United States.