ABC Arbitrage SA Invests $821,000 in Camden Property Trust (NYSE:CPT)

ABC Arbitrage SA acquired a new position in shares of Camden Property Trust (NYSE:CPT) during the fourth quarter, HoldingsChannel reports. The firm acquired 7,074 shares of the real estate investment trust’s stock, valued at approximately $821,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SMART Wealth LLC bought a new stake in Camden Property Trust in the 3rd quarter valued at $829,000. Nordea Investment Management AB raised its stake in Camden Property Trust by 15.0% in the 4th quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock valued at $11,339,000 after acquiring an additional 12,805 shares during the period. QRG Capital Management Inc. bought a new stake in Camden Property Trust in the 3rd quarter valued at $1,660,000. Franklin Resources Inc. raised its stake in Camden Property Trust by 3.2% in the 3rd quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock valued at $23,174,000 after acquiring an additional 5,985 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Camden Property Trust by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock valued at $66,563,000 after acquiring an additional 51,097 shares during the period. Institutional investors own 97.22% of the company’s stock.

Insider Buying and Selling at Camden Property Trust

In other Camden Property Trust news, Director Heather J. Brunner sold 1,853 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $212,168.50. Following the completion of the transaction, the director now directly owns 10,537 shares in the company, valued at approximately $1,206,486.50. This trade represents a 14.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard J. Campo sold 1,043 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $114,792.58. Following the completion of the transaction, the chief executive officer now owns 299,092 shares of the company’s stock, valued at $32,918,065.52. This represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,413 shares of company stock worth $2,895,718. 1.80% of the stock is currently owned by insiders.

Camden Property Trust Price Performance

Shares of CPT stock opened at $119.11 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.72. Camden Property Trust has a twelve month low of $92.26 and a twelve month high of $127.69. The company has a market cap of $12.71 billion, a P/E ratio of 79.41, a P/E/G ratio of 4.27 and a beta of 0.94. The business has a fifty day simple moving average of $115.19 and a 200 day simple moving average of $119.17.

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 for the quarter, topping the consensus estimate of $1.68 by $0.05. Camden Property Trust had a return on equity of 3.32% and a net margin of 10.58%. On average, sell-side analysts forecast that Camden Property Trust will post 6.8 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a $1.05 dividend. The ex-dividend date is Monday, March 31st. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. This represents a $4.20 annualized dividend and a yield of 3.53%. Camden Property Trust’s dividend payout ratio (DPR) is currently 274.67%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Mizuho dropped their price target on Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Barclays decreased their price objective on Camden Property Trust from $138.00 to $126.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada upped their price objective on Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. StockNews.com raised Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their price objective on Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Camden Property Trust presently has a consensus rating of “Hold” and an average target price of $126.31.

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.