Envestnet Asset Management Inc. Reduces Stock Holdings in Camden Property Trust (NYSE:CPT)

Envestnet Asset Management Inc. lowered its holdings in Camden Property Trust (NYSE:CPT) by 3.8% during the fourth quarter, Holdings Channel reports. The fund owned 221,440 shares of the real estate investment trust’s stock after selling 8,633 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Camden Property Trust were worth $25,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CPT. Dynamic Technology Lab Private Ltd purchased a new position in shares of Camden Property Trust during the 4th quarter valued at about $371,000. Resona Asset Management Co. Ltd. acquired a new stake in Camden Property Trust during the fourth quarter worth about $6,798,000. Centersquare Investment Management LLC raised its position in Camden Property Trust by 15.9% during the fourth quarter. Centersquare Investment Management LLC now owns 2,522,398 shares of the real estate investment trust’s stock valued at $292,699,000 after acquiring an additional 345,331 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Camden Property Trust by 24.9% in the fourth quarter. Headlands Technologies LLC now owns 5,485 shares of the real estate investment trust’s stock valued at $636,000 after acquiring an additional 1,094 shares during the period. Finally, Geode Capital Management LLC boosted its position in Camden Property Trust by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,816,260 shares of the real estate investment trust’s stock worth $326,032,000 after purchasing an additional 76,429 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Stock Performance

CPT opened at $107.85 on Monday. Camden Property Trust has a twelve month low of $94.75 and a twelve month high of $127.69. The firm has a market capitalization of $11.73 billion, a PE ratio of 71.90, a PEG ratio of 4.41 and a beta of 0.79. The company has a current ratio of 0.14, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $118.72 and its 200 day moving average price is $118.21.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a $1.05 dividend. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. This represents a $4.20 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Monday, March 31st. Camden Property Trust’s dividend payout ratio is presently 280.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Citigroup raised shares of Camden Property Trust from a “neutral” rating to a “buy” rating and lifted their target price for the company from $125.00 to $138.00 in a report on Friday, March 28th. JPMorgan Chase & Co. cut shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $129.00 to $128.00 in a report on Tuesday, December 17th. Royal Bank of Canada raised their target price on Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Truist Financial upped their price target on Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Mizuho dropped their price objective on Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $127.61.

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.