Cetera Trust Company N.A Purchases New Holdings in Camden Property Trust (NYSE:CPT)

Cetera Trust Company N.A purchased a new stake in shares of Camden Property Trust (NYSE:CPT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,165 shares of the real estate investment trust’s stock, valued at approximately $116,000.

A number of other large investors also recently bought and sold shares of the business. Twin Capital Management Inc. purchased a new position in Camden Property Trust during the 4th quarter valued at about $811,000. Canton Hathaway LLC purchased a new position in Camden Property Trust in the fourth quarter worth about $149,000. Lecap Asset Management Ltd. purchased a new position in Camden Property Trust in the fourth quarter worth about $226,000. Granite Bay Wealth Management LLC raised its holdings in Camden Property Trust by 62.1% in the fourth quarter. Granite Bay Wealth Management LLC now owns 10,210 shares of the real estate investment trust’s stock worth $942,000 after buying an additional 3,910 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Camden Property Trust in the fourth quarter worth about $645,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CPT. StockNews.com cut shares of Camden Property Trust from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Camden Property Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $90.00 price target for the company. Barclays lowered shares of Camden Property Trust from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $138.00 to $100.00 in a research note on Tuesday, February 20th. Piper Sandler reiterated an “underweight” rating and issued a $90.00 price target on shares of Camden Property Trust in a research note on Tuesday, March 26th. Finally, Morgan Stanley lifted their price target on shares of Camden Property Trust from $95.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Camden Property Trust presently has an average rating of “Hold” and an average target price of $104.29.

Camden Property Trust Stock Performance

CPT opened at $98.09 on Tuesday. The firm has a market cap of $10.68 billion, a P/E ratio of 26.51, a PEG ratio of 3.61 and a beta of 0.83. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $114.04. The company has a 50 day simple moving average of $97.00 and a two-hundred day simple moving average of $95.10. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.88.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.31. The business had revenue of $387.59 million during the quarter, compared to analyst estimates of $387.33 million. Camden Property Trust had a net margin of 26.15% and a return on equity of 8.07%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.74 earnings per share. Equities analysts forecast that Camden Property Trust will post 6.72 earnings per share for the current fiscal year.

Camden Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th were given a $1.03 dividend. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Wednesday, March 27th. Camden Property Trust’s dividend payout ratio is presently 111.35%.

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 58,634 apartment homes across the United States.