DnB Asset Management AS Raises Holdings in Camden Property Trust (NYSE:CPT)

DnB Asset Management AS raised its position in shares of Camden Property Trust (NYSE:CPT) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,265 shares of the real estate investment trust’s stock after acquiring an additional 883 shares during the period. DnB Asset Management AS’s holdings in Camden Property Trust were worth $2,119,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Camden Property Trust by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 17,250,406 shares of the real estate investment trust’s stock worth $2,001,737,000 after purchasing an additional 125,287 shares in the last quarter. State Street Corp increased its position in shares of Camden Property Trust by 0.5% in the third quarter. State Street Corp now owns 7,118,930 shares of the real estate investment trust’s stock worth $886,693,000 after acquiring an additional 36,528 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Camden Property Trust by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock valued at $510,674,000 after acquiring an additional 277,117 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Camden Property Trust by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,739,831 shares of the real estate investment trust’s stock valued at $337,394,000 after acquiring an additional 20,097 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Camden Property Trust by 86.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,974,842 shares of the real estate investment trust’s stock worth $243,952,000 after purchasing an additional 918,078 shares during the period. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Richard J. Campo sold 1,043 shares of Camden Property Trust stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $114,792.58. Following the sale, the chief executive officer now directly owns 299,092 shares in the company, valued at $32,918,065.52. The trade was a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heather J. Brunner sold 1,853 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total transaction of $212,168.50. Following the completion of the transaction, the director now owns 10,537 shares of the company’s stock, valued at $1,206,486.50. This represents a 14.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,548 shares of company stock valued at $2,912,212 over the last three months. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CPT shares. StockNews.com upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Mizuho reduced their price target on Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. downgraded shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $129.00 to $128.00 in a research report on Tuesday, December 17th. Truist Financial boosted their target price on shares of Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, Citigroup raised shares of Camden Property Trust from a “neutral” rating to a “buy” rating and raised their price target for the company from $125.00 to $138.00 in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $127.76.

Camden Property Trust Stock Performance

CPT stock opened at $121.75 on Wednesday. The stock’s 50 day simple moving average is $118.94 and its 200 day simple moving average is $119.16. Camden Property Trust has a 12-month low of $94.75 and a 12-month high of $127.69. The firm has a market cap of $13.25 billion, a P/E ratio of 81.17, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a current ratio of 0.14, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73.

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

Camden Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a dividend of $1.05 per share. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. This represents a $4.20 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Monday, March 31st. Camden Property Trust’s dividend payout ratio is presently 280.00%.

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.