Camden Property Trust (NYSE:CPT) Shares Sold by Spire Wealth Management

Spire Wealth Management reduced its stake in Camden Property Trust (NYSE:CPTFree Report) by 46.0% during the 3rd quarter, Holdings Channel reports. The fund owned 341 shares of the real estate investment trust’s stock after selling 290 shares during the period. Spire Wealth Management’s holdings in Camden Property Trust were worth $32,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Camden Property Trust by 2.8% during the first quarter. Vanguard Group Inc. now owns 14,955,322 shares of the real estate investment trust’s stock worth $2,485,575,000 after acquiring an additional 412,019 shares during the last quarter. BlackRock Inc. boosted its stake in Camden Property Trust by 1.6% in the first quarter. BlackRock Inc. now owns 9,961,282 shares of the real estate investment trust’s stock valued at $1,044,341,000 after acquiring an additional 157,326 shares during the period. State Street Corp boosted its stake in Camden Property Trust by 0.7% in the first quarter. State Street Corp now owns 6,890,494 shares of the real estate investment trust’s stock valued at $729,147,000 after acquiring an additional 45,705 shares during the period. Victory Capital Management Inc. boosted its stake in Camden Property Trust by 1.2% in the third quarter. Victory Capital Management Inc. now owns 3,599,058 shares of the real estate investment trust’s stock valued at $340,399,000 after acquiring an additional 43,376 shares during the period. Finally, Norges Bank acquired a new position in Camden Property Trust in the fourth quarter valued at approximately $333,911,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Stock Up 0.8 %

CPT opened at $94.20 on Tuesday. Camden Property Trust has a fifty-two week low of $82.81 and a fifty-two week high of $124.45. The business has a 50-day moving average of $97.03 and a 200-day moving average of $97.45. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.10. The company has a market capitalization of $10.06 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.45 and a beta of 0.84.

Camden Property Trust (NYSE:CPTGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.31. The business had revenue of $387.59 million for the quarter, compared to the consensus estimate of $387.33 million. Camden Property Trust had a return on equity of 8.07% and a net margin of 26.15%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business earned $1.74 EPS. Equities research analysts forecast that Camden Property Trust will post 6.78 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $4.12 dividend on an annualized basis and a yield of 4.37%. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.00. Camden Property Trust’s payout ratio is currently 108.11%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Stifel Nicolaus decreased their target price on Camden Property Trust from $111.50 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Truist Financial reduced their price objective on Camden Property Trust from $122.00 to $121.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. StockNews.com upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Piper Sandler downgraded Camden Property Trust from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $126.00 to $80.00 in a research report on Tuesday, October 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $103.00 price objective on shares of Camden Property Trust in a research report on Monday, February 5th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $106.88.

View Our Latest Research Report on CPT

Insider Buying and Selling at Camden Property Trust

In related news, CEO Richard J. Campo sold 38,336 shares of Camden Property Trust stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $98.22, for a total value of $3,765,361.92. Following the completion of the sale, the chief executive officer now directly owns 267,132 shares in the company, valued at $26,237,705.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Alexander J. Jessett sold 9,803 shares of Camden Property Trust stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $98.21, for a total transaction of $962,752.63. Following the transaction, the chief financial officer now owns 114,893 shares of the company’s stock, valued at approximately $11,283,641.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard J. Campo sold 38,336 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $98.22, for a total value of $3,765,361.92. Following the sale, the chief executive officer now directly owns 267,132 shares in the company, valued at approximately $26,237,705.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,957 shares of company stock worth $5,495,920. 2.00% of the stock is currently owned by corporate insiders.

Camden Property Trust Company Profile

(Free Report)

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 58,961 apartment homes across the United States.

See Also

Want to see what other hedge funds are holding CPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Camden Property Trust (NYSE:CPTFree Report).

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

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