Camden Property Trust (NYSE:CPT) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System lifted its stake in Camden Property Trust (NYSE:CPT) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,600 shares of the real estate investment trust’s stock after acquiring an additional 2,300 shares during the quarter. State of Michigan Retirement System’s holdings in Camden Property Trust were worth $3,448,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Security National Bank lifted its stake in Camden Property Trust by 1.2% during the second quarter. Security National Bank now owns 8,267 shares of the real estate investment trust’s stock worth $902,000 after purchasing an additional 101 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Camden Property Trust by 3.8% during the 1st quarter. William Blair Investment Management LLC now owns 3,002 shares of the real estate investment trust’s stock worth $295,000 after acquiring an additional 109 shares in the last quarter. ERn Financial LLC boosted its holdings in Camden Property Trust by 2.0% during the 1st quarter. ERn Financial LLC now owns 6,136 shares of the real estate investment trust’s stock valued at $604,000 after acquiring an additional 118 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Camden Property Trust by 23.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 636 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 119 shares during the period. Finally, Lindbrook Capital LLC grew its position in Camden Property Trust by 90.4% in the 1st quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CPT shares. Truist Financial upped their price objective on Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America raised Camden Property Trust from an “underperform” rating to a “buy” rating and increased their price target for the company from $111.00 to $147.00 in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on Camden Property Trust from $104.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Piper Sandler lifted their price target on shares of Camden Property Trust from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Mizuho dropped their price objective on shares of Camden Property Trust from $111.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $116.32.

Camden Property Trust Trading Up 0.8 %

Shares of Camden Property Trust stock opened at $123.92 on Wednesday. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 4.50 and a beta of 0.88. Camden Property Trust has a 52-week low of $82.81 and a 52-week high of $124.44. The company’s 50-day simple moving average is $113.79 and its 200-day simple moving average is $105.04. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.71.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The business had revenue of $387.15 million for the quarter, compared to analysts’ expectations of $384.76 million. Camden Property Trust had a return on equity of 7.95% and a net margin of 25.64%. During the same period last year, the company posted $1.70 earnings per share. As a group, equities research analysts anticipate that Camden Property Trust will post 6.73 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $4.12 dividend on an annualized basis and a yield of 3.32%. Camden Property Trust’s dividend payout ratio (DPR) is presently 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.