Sequoia Financial Advisors LLC boosted its position in Camden Property Trust (NYSE:CPT – Free Report) by 336.7% in the 4th quarter, Holdings Channel reports. The fund owned 11,030 shares of the real estate investment trust’s stock after purchasing an additional 8,504 shares during the period. Sequoia Financial Advisors LLC’s holdings in Camden Property Trust were worth $1,214,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolverine Asset Management LLC grew its stake in Camden Property Trust by 384.1% in the 3rd quarter. Wolverine Asset Management LLC now owns 28,279 shares of the real estate investment trust’s stock worth $3,020,000 after acquiring an additional 22,438 shares during the period. Allianz Asset Management GmbH grew its stake in Camden Property Trust by 7.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 166,280 shares of the real estate investment trust’s stock worth $17,755,000 after acquiring an additional 11,983 shares during the period. Y Intercept Hong Kong Ltd grew its stake in Camden Property Trust by 558.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 46,671 shares of the real estate investment trust’s stock worth $4,984,000 after acquiring an additional 39,578 shares during the period. Waterfall Asset Management LLC purchased a new stake in Camden Property Trust in the 3rd quarter worth approximately $3,257,000. Finally, Consolidated Investment Group LLC purchased a new stake in Camden Property Trust in the 3rd quarter worth approximately $1,911,000. 97.22% of the stock is owned by hedge funds and other institutional investors.
Camden Property Trust Stock Performance
Shares of Camden Property Trust stock opened at $105.24 on Wednesday. The firm has a market cap of $10.58 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 7.14 and a beta of 0.81. The firm’s 50-day simple moving average is $102.20 and its 200-day simple moving average is $104.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.42 and a current ratio of 0.42. Camden Property Trust has a 1 year low of $96.53 and a 1 year high of $119.89.
Camden Property Trust declared that its board has initiated a stock repurchase plan on Thursday, February 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Analyst Ratings Changes
Several brokerages have recently issued reports on CPT. Cantor Fitzgerald lowered their price objective on shares of Camden Property Trust from $108.00 to $102.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Barclays boosted their price objective on shares of Camden Property Trust from $115.00 to $116.00 and gave the company an “equal weight” rating in a research note on Monday. Stifel Nicolaus set a $118.75 price objective on shares of Camden Property Trust in a research note on Friday, May 1st. Scotiabank lowered their price objective on shares of Camden Property Trust from $115.00 to $113.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 4th. Finally, Piper Sandler set a $108.00 price objective on shares of Camden Property Trust in a research note on Tuesday, January 27th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.36.
View Our Latest Stock Report on CPT
Insider Activity at Camden Property Trust
In other Camden Property Trust news, COO Laurie Baker sold 2,168 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $108.40, for a total value of $235,011.20. Following the sale, the chief operating officer owned 94,468 shares in the company, valued at approximately $10,240,331.20. This trade represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.90% of the company’s stock.
Camden Property Trust Company Profile
Camden Property Trust is a publicly traded real estate investment trust (REIT) specializing in the ownership, development and management of multifamily residential communities across the United States. The company’s core business activities include acquiring land for new construction, overseeing the design and development of garden-style and mid-rise apartment communities, and providing ongoing property management services. Camden’s asset management team focuses on maintaining high occupancy levels, resident satisfaction and operational efficiency through consistent leasing, maintenance and community engagement programs.
Camden’s portfolio encompasses a geographically diversified mix of properties located primarily in high-growth Sun Belt and major metropolitan markets.
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