Resona Asset Management Co. Ltd. lessened its stake in shares of Camden Property Trust (NYSE:CPT – Free Report) by 29.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,941 shares of the real estate investment trust’s stock after selling 18,973 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Camden Property Trust were worth $5,053,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Abich Financial Wealth Management LLC acquired a new position in shares of Camden Property Trust in the third quarter worth $25,000. Hantz Financial Services Inc. boosted its stake in shares of Camden Property Trust by 524.4% during the third quarter. Hantz Financial Services Inc. now owns 281 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 236 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Camden Property Trust during the 2nd quarter worth about $32,000. Fulcrum Asset Management LLP purchased a new stake in Camden Property Trust during the 3rd quarter worth about $32,000. Finally, MUFG Securities EMEA plc acquired a new position in Camden Property Trust in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.
Camden Property Trust Stock Performance
NYSE CPT opened at $107.64 on Friday. The business’s 50-day moving average price is $102.00 and its 200 day moving average price is $105.03. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 1.04. Camden Property Trust has a twelve month low of $96.53 and a twelve month high of $119.00. The company has a market capitalization of $10.82 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 7.89 and a beta of 0.81.
Camden Property Trust declared that its Board of Directors has approved a stock repurchase program on Thursday, February 5th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the real estate investment trust to buy up to 5.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of Camden Property Trust from $115.00 to $116.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Wells Fargo & Company lowered their price target on shares of Camden Property Trust from $110.00 to $106.00 and set an “equal weight” rating for the company in a report on Thursday, April 23rd. Scotiabank lowered shares of Camden Property Trust from a “sector perform” rating to a “sector underperform” rating and cut their price objective for the company from $113.00 to $95.00 in a research report on Thursday, May 14th. Cantor Fitzgerald reduced their price objective on shares of Camden Property Trust from $108.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Finally, UBS Group decreased their target price on shares of Camden Property Trust from $108.00 to $106.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.98.
Check Out Our Latest Analysis on Camden Property Trust
Camden Property Trust 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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