Park Avenue Securities LLC Raises Stock Position in Camden Property Trust (NYSE:CPT)

Park Avenue Securities LLC boosted its position in shares of Camden Property Trust (NYSE:CPTGet Rating) by 3.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,830 shares of the real estate investment trust’s stock after buying an additional 92 shares during the period. Park Avenue Securities LLC’s holdings in Camden Property Trust were worth $338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Venture Visionary Partners LLC purchased a new position in shares of Camden Property Trust during the second quarter valued at $32,000. Northwestern Mutual Wealth Management Co. grew its holdings in Camden Property Trust by 231.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 272 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 190 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new position in Camden Property Trust during the 2nd quarter valued at about $43,000. Meeder Asset Management Inc. lifted its position in shares of Camden Property Trust by 24.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 499 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 98 shares during the period. Finally, Tobam bought a new position in shares of Camden Property Trust during the second quarter valued at approximately $76,000. 93.25% of the stock is owned by institutional investors.

Camden Property Trust Price Performance

Shares of CPT opened at $114.68 on Monday. The firm has a market capitalization of $12.22 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 2.87 and a beta of 0.75. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.24 and a quick ratio of 0.24. The company’s fifty day moving average price is $114.67 and its 200-day moving average price is $122.72. Camden Property Trust has a 1-year low of $107.90 and a 1-year high of $175.69.

Camden Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 16th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Thursday, December 15th. Camden Property Trust’s dividend payout ratio is presently 49.54%.

Insider Transactions at Camden Property Trust

In related news, CAO Michael P. Gallagher sold 1,332 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $112.57, for a total value of $149,943.24. Following the transaction, the chief accounting officer now owns 28,110 shares in the company, valued at approximately $3,164,342.70. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Michael P. Gallagher sold 1,332 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $112.57, for a total transaction of $149,943.24. Following the completion of the transaction, the chief accounting officer now directly owns 28,110 shares in the company, valued at $3,164,342.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heather J. Brunner sold 1,278 shares of the company’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $112.57, for a total transaction of $143,864.46. Following the completion of the sale, the director now directly owns 9,473 shares in the company, valued at $1,066,375.61. The disclosure for this sale can be found here. Insiders sold a total of 12,902 shares of company stock worth $1,452,378 over the last three months. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CPT shares. Piper Sandler lowered their target price on Camden Property Trust from $165.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, October 7th. Evercore ISI dropped their price objective on Camden Property Trust to $136.00 in a research report on Thursday, October 13th. Barclays cut their target price on Camden Property Trust from $169.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, November 10th. TheStreet cut shares of Camden Property Trust from a “b” rating to a “c+” rating in a report on Monday, November 28th. Finally, Stifel Nicolaus reduced their price objective on shares of Camden Property Trust from $175.00 to $152.00 in a research note on Friday, October 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.69.

About Camden Property Trust

(Get Rating)

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.

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

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