State of Michigan Retirement System Raises Holdings in Camden Property Trust (NYSE:CPT)

State of Michigan Retirement System grew its position in Camden Property Trust (NYSE:CPT) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,200 shares of the real estate investment trust’s stock after buying an additional 800 shares during the quarter. State of Michigan Retirement System’s holdings in Camden Property Trust were worth $3,736,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its stake in Camden Property Trust by 11.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,201 shares of the real estate investment trust’s stock worth $488,000 after acquiring an additional 436 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Camden Property Trust by 220.7% in 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. Smartleaf Asset Management LLC lifted its holdings in Camden Property Trust by 33.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 531 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 132 shares during the period. Aew Capital Management L P lifted its holdings in Camden Property Trust by 26.2% during the fourth quarter. Aew Capital Management L P now owns 158,455 shares of the real estate investment trust’s stock worth $18,387,000 after buying an additional 32,870 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in Camden Property Trust by 9.6% during the fourth quarter. Metis Global Partners LLC now owns 15,771 shares of the real estate investment trust’s stock worth $1,830,000 after buying an additional 1,376 shares during the period. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Stock Performance

Shares of CPT stock opened at $121.38 on Friday. Camden Property Trust has a 1 year low of $94.75 and a 1 year high of $127.69. The firm has a market capitalization of $12.96 billion, a price-to-earnings ratio of 80.92, a price-to-earnings-growth ratio of 4.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.14 and a quick ratio of 0.15. The business has a fifty day moving average of $116.27 and a 200 day moving average of $119.55.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.05. Camden Property Trust had a return on equity of 3.35% and a net margin of 10.58%. As a group, research analysts expect that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. Camden Property Trust’s dividend payout ratio (DPR) is 280.00%.

Analysts Set New Price Targets

A number of research firms have weighed in on CPT. JPMorgan Chase & Co. lowered Camden Property Trust from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $129.00 to $128.00 in a report on Tuesday, December 17th. Evercore ISI upped their price objective on Camden Property Trust from $118.00 to $127.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Wells Fargo & Company decreased their price target on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Mizuho decreased their price target on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com cut shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Saturday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $126.53.

Insider Buying and Selling

In other Camden Property Trust news, Director Heather J. Brunner sold 264 shares of Camden Property Trust stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total transaction of $29,055.84. Following the completion of the transaction, the director now owns 10,273 shares in the company, valued at approximately $1,130,646.38. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Alexander J. Jessett sold 13,067 shares of Camden Property Trust stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $1,496,171.50. Following the transaction, the chief financial officer now owns 124,246 shares of the company’s stock, valued at approximately $14,226,167. This represents a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,413 shares of company stock valued at $2,895,718 over the last 90 days. Insiders own 1.80% of the company’s stock.

Camden Property Trust 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.