First Sabrepoint Capital Management LP Cuts Position in Camden Property Trust (NYSE:CPT)

First Sabrepoint Capital Management LP lowered its holdings in Camden Property Trust (NYSE:CPT) by 18.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,000 shares of the real estate investment trust’s stock after selling 15,000 shares during the period. Camden Property Trust makes up 2.0% of First Sabrepoint Capital Management LP’s portfolio, making the stock its 18th biggest position. First Sabrepoint Capital Management LP owned about 0.06% of Camden Property Trust worth $7,543,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. increased its holdings in Camden Property Trust by 6.5% during the 4th quarter. Federated Hermes Inc. now owns 1,466 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 90 shares during the last quarter. UMB Bank n.a. grew its holdings in Camden Property Trust by 76.6% during the 4th quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 98 shares in the last quarter. First American Bank raised its stake in shares of Camden Property Trust by 1.0% in the 4th quarter. First American Bank now owns 10,846 shares of the real estate investment trust’s stock valued at $1,259,000 after purchasing an additional 104 shares in the last quarter. Fisher Asset Management LLC grew its stake in Camden Property Trust by 2.5% in the fourth quarter. Fisher Asset Management LLC now owns 4,297 shares of the real estate investment trust’s stock worth $499,000 after purchasing an additional 105 shares in the last quarter. Finally, Quent Capital LLC increased 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 buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

CPT has been the topic of a number of research reports. StockNews.com raised shares of Camden Property Trust from a “sell” rating to a “hold” rating in a report on Thursday. Truist Financial upped their price objective on Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Scotiabank upped their price target on shares of Camden Property Trust from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Wells Fargo & Company reduced their target price on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Finally, Royal Bank of Canada raised their price target on shares of Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $127.61.

Camden Property Trust Stock Performance

Shares of NYSE:CPT opened at $117.40 on Friday. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 78.27, a price-to-earnings-growth ratio of 4.41 and a beta of 0.79. The business’s fifty day moving average price is $116.53 and its two-hundred day moving average price is $117.44. Camden Property Trust has a fifty-two week low of $98.35 and a fifty-two week high of $127.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.14 and a quick ratio of 0.15.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. The firm had revenue of $390.57 million for the quarter, compared to analyst estimates of $388.47 million. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.70 earnings per share. As a group, analysts predict that Camden Property Trust will post 6.76 EPS for the current fiscal year.

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.