Coronation Fund Managers Ltd. Reduces Stock Position in Camden Property Trust (NYSE:CPT)

Coronation Fund Managers Ltd. reduced its holdings in shares of Camden Property Trust (NYSE:CPT) by 9.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,352 shares of the real estate investment trust’s stock after selling 8,748 shares during the quarter. Coronation Fund Managers Ltd. owned 0.08% of Camden Property Trust worth $10,420,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kings Path Partners LLC bought a new position in Camden Property Trust during the 2nd quarter valued at $33,000. Federated Hermes Inc. acquired a new stake in shares of Camden Property Trust in the 2nd quarter valued at about $33,000. Family Firm Inc. bought a new position in shares of Camden Property Trust during the second quarter worth about $39,000. Versant Capital Management Inc grew its stake in Camden Property Trust by 2,187.5% in the second quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 350 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Camden Property Trust by 367.8% in the third quarter. Blue Trust Inc. now owns 931 shares of the real estate investment trust’s stock valued at $115,000 after buying an additional 732 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CPT. Wedbush increased their target price on Camden Property Trust from $118.00 to $131.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Piper Sandler raised their price objective on Camden Property Trust from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Camden Property Trust from $90.00 to $115.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Wells Fargo & Company raised shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $104.00 to $127.00 in a report on Monday, August 26th. Finally, BNP Paribas assumed coverage on shares of Camden Property Trust in a report on Wednesday, September 11th. They issued a “neutral” rating and a $129.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.76.

Camden Property Trust Stock Down 1.8 %

CPT opened at $113.73 on Friday. The stock’s 50 day moving average price is $122.03 and its 200 day moving average price is $113.36. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market cap of $12.13 billion, a P/E ratio of 35.99, a P/E/G ratio of 4.34 and a beta of 0.91. Camden Property Trust has a 12 month low of $85.30 and a 12 month high of $127.69.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The business had revenue of $387.15 million for the quarter, compared to analyst estimates of $384.76 million. Camden Property Trust had a net margin of 22.32% and a return on equity of 6.91%. During the same period last year, the business posted $1.70 earnings per share. As a group, research analysts predict that Camden Property Trust will post 6.78 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were paid a dividend of $1.03 per share. The ex-dividend date was Monday, September 30th. This represents a $4.12 annualized dividend and a yield of 3.62%. Camden Property Trust’s payout ratio is 130.38%.

Camden Property Trust Company 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.