Wells Fargo & Company MN Raises Stock Position in Camden Property Trust (NYSE:CPT)

Wells Fargo & Company MN increased its stake in Camden Property Trust (NYSE:CPT) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 188,712 shares of the real estate investment trust’s stock after acquiring an additional 11,630 shares during the quarter. Wells Fargo & Company MN owned approximately 0.19% of Camden Property Trust worth $25,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. First Trust Advisors LP boosted its stake in Camden Property Trust by 44.7% during the 1st quarter. First Trust Advisors LP now owns 37,445 shares of the real estate investment trust’s stock worth $3,801,000 after purchasing an additional 11,574 shares during the last quarter. Eaton Vance Management boosted its stake in Camden Property Trust by 40.7% during the 1st quarter. Eaton Vance Management now owns 9,993 shares of the real estate investment trust’s stock worth $1,098,000 after purchasing an additional 2,893 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Camden Property Trust during the 1st quarter worth $579,000. Colony Group LLC boosted its stake in Camden Property Trust by 59.8% during the 1st quarter. Colony Group LLC now owns 27,941 shares of the real estate investment trust’s stock worth $3,071,000 after purchasing an additional 10,459 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Camden Property Trust by 11.0% during the 1st quarter. Schroder Investment Management Group now owns 640,559 shares of the real estate investment trust’s stock worth $70,404,000 after purchasing an additional 63,467 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

CPT stock opened at $170.69 on Thursday. The company’s 50 day moving average price is $157.73 and its 200 day moving average price is $145.56. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.62 and a current ratio of 1.62. Camden Property Trust has a fifty-two week low of $94.59 and a fifty-two week high of $171.17. The firm has a market capitalization of $17.44 billion, a price-to-earnings ratio of 143.44, a PEG ratio of 6.79 and a beta of 0.74.

Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, October 28th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($1.06). Camden Property Trust had a return on equity of 3.26% and a net margin of 10.93%. The firm had revenue of $294.10 million for the quarter, compared to analysts’ expectations of $285.35 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that Camden Property Trust will post 5.34 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 18th. Investors of record on Thursday, September 30th were paid a dividend of $0.83 per share. The ex-dividend date was Wednesday, September 29th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.95%. Camden Property Trust’s payout ratio is 278.99%.

In related news, CAO Michael P. Gallagher sold 907 shares of the company’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $163.37, for a total value of $148,176.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Aldrich Sevilla-Sacasa sold 2,681 shares of the stock in a transaction that occurred on Wednesday, September 15th. The shares were sold at an average price of $151.83, for a total value of $407,056.23. Following the completion of the sale, the director now directly owns 18,471 shares of the company’s stock, valued at $2,804,451.93. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Several equities research analysts have issued reports on the stock. BTIG Research reaffirmed a “hold” rating on shares of Camden Property Trust in a research note on Tuesday. Zacks Investment Research raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a research report on Friday, September 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Camden Property Trust from $132.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 23rd. Truist Securities boosted their price target on shares of Camden Property Trust from $138.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, August 25th. Finally, Piper Sandler boosted their price target on shares of Camden Property Trust from $140.00 to $178.00 and gave the company an “overweight” rating in a research report on Wednesday, September 1st. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $155.75.

Camden Property Trust Profile

Camden Property Trust operates as a real estate investment trust. The firm engages in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. It focuses on maintaining a geographically portfolio of apartment homes located across the U.S.

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Institutional Ownership by Quarter for Camden Property Trust (NYSE:CPT)

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