PNC Financial Services Group Inc. Reduces Stock Position in Camden Property Trust (NYSE:CPT)

PNC Financial Services Group Inc. trimmed its stake in shares of Camden Property Trust (NYSE:CPT) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,412 shares of the real estate investment trust’s stock after selling 496 shares during the period. PNC Financial Services Group Inc.’s holdings in Camden Property Trust were worth $1,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. National Pension Service purchased a new stake in Camden Property Trust during the 4th quarter valued at $26,000. UMB Bank n.a. increased its position in Camden Property Trust by 76.6% during the fourth quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 98 shares during the last quarter. Quent Capital LLC lifted its holdings in Camden Property Trust by 87.0% in the fourth quarter. Quent Capital LLC now owns 245 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 114 shares during the period. Neo Ivy Capital Management bought a new position in Camden Property Trust in the third quarter valued at about $38,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Camden Property Trust by 117.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 382 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 206 shares during the period. Institutional investors own 97.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CPT shares. Scotiabank increased their price objective on shares of Camden Property Trust from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. StockNews.com downgraded shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Saturday, March 8th. Evercore ISI boosted their price objective on shares of Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Wells Fargo & Company decreased their target price on Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Finally, Barclays boosted their price target on Camden Property Trust from $126.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Camden Property Trust currently has a consensus rating of “Hold” and a consensus target price of $127.19.

Camden Property Trust Stock Performance

Shares of NYSE CPT opened at $118.23 on Friday. The firm’s fifty day moving average is $116.74 and its two-hundred day moving average is $119.46. Camden Property Trust has a 52-week low of $94.75 and a 52-week high of $127.69. The company has a market cap of $12.62 billion, a P/E ratio of 78.82, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a return on equity of 3.35% and a net margin of 10.58%. As a group, analysts anticipate that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. Camden Property Trust’s payout ratio is currently 280.00%.

Insider Activity at Camden Property Trust

In other news, CEO Richard J. Campo sold 7,324 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $838,598.00. Following the sale, the chief executive officer now directly owns 300,135 shares in the company, valued at $34,365,457.50. The trade was a 2.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Heather J. Brunner sold 264 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 transaction of $29,055.84. Following the completion of the transaction, the director now directly owns 10,273 shares of the company’s stock, valued at approximately $1,130,646.38. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,548 shares of company stock valued at $2,912,212 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Camden Property Trust 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.