LPL Financial LLC Buys 3,974 Shares of Camden Property Trust (NYSE:CPT)

LPL Financial LLC grew its position in Camden Property Trust (NYSE:CPT) by 13.9% in the fourth quarter, Holdings Channel reports. The fund owned 32,573 shares of the real estate investment trust’s stock after acquiring an additional 3,974 shares during the quarter. LPL Financial LLC’s holdings in Camden Property Trust were worth $3,780,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in Camden Property Trust by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock worth $510,674,000 after purchasing an additional 277,117 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Camden Property Trust by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,739,831 shares of the real estate investment trust’s stock worth $337,394,000 after purchasing an additional 20,097 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Camden Property Trust by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,514,550 shares of the real estate investment trust’s stock valued at $175,748,000 after buying an additional 15,808 shares during the period. Principal Financial Group Inc. raised its holdings in Camden Property Trust by 11.1% in the 4th quarter. Principal Financial Group Inc. now owns 598,815 shares of the real estate investment trust’s stock valued at $69,485,000 after buying an additional 59,939 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Camden Property Trust by 20.9% during the 4th quarter. Jennison Associates LLC now owns 461,504 shares of the real estate investment trust’s stock worth $53,553,000 after buying an additional 79,896 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $129.00 to $128.00 in a research note on Tuesday, December 17th. Evercore ISI raised their target price on Camden Property Trust from $118.00 to $127.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Jefferies Financial Group upgraded Camden Property Trust from a “hold” rating to a “buy” rating and upped their price target for the company from $117.00 to $139.00 in a research report on Monday, March 10th. Royal Bank of Canada raised their price objective on Camden Property Trust from $121.00 to $123.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Finally, Truist Financial upped their target price on Camden Property Trust from $122.00 to $129.00 and gave the company a “buy” rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $127.76.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $108.08 on Friday. The firm has a market capitalization of $11.76 billion, a P/E ratio of 72.05, a P/E/G ratio of 4.41 and a beta of 0.79. The firm’s 50-day moving average price is $118.85 and its 200-day moving average price is $118.38. The company has a current ratio of 0.14, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. Camden Property Trust has a 1-year low of $94.75 and a 1-year high of $127.69.

Camden Property Trust (NYSE:CPT) last issued its 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%. Equities research analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors 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 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Monday, March 31st. Camden Property Trust’s dividend payout ratio (DPR) is currently 280.00%.

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 58,250 apartment homes across the United States.