Geode Capital Management LLC Purchases 76,429 Shares of Camden Property Trust (NYSE:CPT)

Geode Capital Management LLC lifted its holdings in Camden Property Trust (NYSE:CPT) by 2.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,816,260 shares of the real estate investment trust’s stock after purchasing an additional 76,429 shares during the period. Geode Capital Management LLC owned about 2.64% of Camden Property Trust worth $326,032,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Bank of Canada FI boosted its stake in shares of Camden Property Trust by 4.9% during the 4th quarter. National Bank of Canada FI now owns 49,934 shares of the real estate investment trust’s stock worth $5,794,000 after acquiring an additional 2,323 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Camden Property Trust by 28.7% in the fourth quarter. Franklin Resources Inc. now owns 249,246 shares of the real estate investment trust’s stock worth $28,923,000 after buying an additional 55,561 shares during the period. Axiom Investors LLC DE lifted its stake in shares of Camden Property Trust by 7.5% during the 4th quarter. Axiom Investors LLC DE now owns 3,901 shares of the real estate investment trust’s stock valued at $453,000 after buying an additional 271 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Camden Property Trust by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 2,078,944 shares of the real estate investment trust’s stock worth $241,241,000 after acquiring an additional 104,102 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Camden Property Trust by 6.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,856 shares of the real estate investment trust’s stock worth $1,028,000 after purchasing an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Insider Buying and Selling

In other news, CFO Alexander J. Jessett sold 1,862 shares of Camden Property Trust stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $204,931.72. Following the completion of the sale, the chief financial officer now directly owns 122,384 shares in the company, valued at approximately $13,469,583.04. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Heather J. Brunner sold 1,853 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $114.50, for a total transaction of $212,168.50. Following the sale, the director now directly owns 10,537 shares in the company, valued at $1,206,486.50. This trade represents a 14.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,548 shares of company stock worth $2,912,212 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

CPT has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on Camden Property Trust from $118.00 to $127.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Citigroup raised shares of Camden Property Trust from a “neutral” rating to a “buy” rating and raised their target price for the company from $125.00 to $138.00 in a research note on Friday, March 28th. JPMorgan Chase & Co. cut shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $129.00 to $128.00 in a research note on Tuesday, December 17th. Mizuho dropped their price objective on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Finally, Royal Bank of Canada lifted their target price on Camden Property Trust from $121.00 to $123.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $127.76.

Camden Property Trust Price Performance

Shares of CPT opened at $110.41 on Friday. The company has a 50 day moving average of $119.35 and a two-hundred day moving average of $119.08. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. Camden Property Trust has a twelve month low of $94.75 and a twelve month high of $127.69. The company has a market cap of $12.01 billion, a price-to-earnings ratio of 73.61, a price-to-earnings-growth ratio of 4.41 and a beta of 0.94.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data 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 return on equity of 3.35% and a net margin of 10.58%. As a group, analysts predict that Camden Property Trust will post 6.76 earnings per share for the current fiscal 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 given a $1.05 dividend. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. This represents a $4.20 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, March 31st. Camden Property Trust’s dividend payout ratio (DPR) 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.