Bank of America Corp DE Lowers Position in Camden Property Trust (NYSE:CPT)

Bank of America Corp DE trimmed its position in shares of Camden Property Trust (NYSE:CPT) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 425,860 shares of the real estate investment trust’s stock after selling 42,836 shares during the quarter. Bank of America Corp DE’s holdings in Camden Property Trust were worth $49,417,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Camden Property Trust by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 17,250,406 shares of the real estate investment trust’s stock valued at $2,001,737,000 after buying an additional 125,287 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Camden Property Trust by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock valued at $510,674,000 after buying an additional 277,117 shares during the last quarter. Invesco Ltd. lifted its position in shares of Camden Property Trust by 17.3% during the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust’s stock valued at $344,432,000 after buying an additional 438,685 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Camden Property Trust by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,816,260 shares of the real estate investment trust’s stock valued at $326,032,000 after buying an additional 76,429 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of 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 buying an additional 345,331 shares during the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CPT. Jefferies Financial Group upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and upped their price objective for the company from $117.00 to $139.00 in a report on Monday, March 10th. Stifel Nicolaus upped their price objective on shares of Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a report on Friday, February 7th. Truist Financial upped their price objective on shares of Camden Property Trust from $122.00 to $129.00 and gave the company a “buy” rating in a report on Monday, March 10th. Citigroup upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $125.00 to $138.00 in a report on Friday, March 28th. Finally, StockNews.com upgraded shares of Camden Property Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $129.83.

Insider Transactions at Camden Property Trust

In other news, CEO Richard J. Campo sold 5,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total transaction of $665,854.00. Following the sale, the chief executive officer now owns 289,720 shares of the company’s stock, valued at $34,621,540. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $115.70 on Thursday. Camden Property Trust has a twelve month low of $98.35 and a twelve month high of $127.69. The company’s 50 day moving average is $116.11 and its 200 day moving average is $117.38. 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 company has a market cap of $12.36 billion, a PE ratio of 77.13, a price-to-earnings-growth ratio of 4.41 and a beta of 0.79.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The business had revenue of $390.57 million for the quarter, compared to analysts’ expectations of $388.47 million. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $1.70 EPS. On average, sell-side analysts forecast that Camden Property Trust will post 6.76 EPS for the current year.

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.