TT Capital Management LLC lifted its position in Camden Property Trust (NYSE:CPT – Free Report) by 83.3% in the third quarter, Holdings Channel reports. The firm owned 23,456 shares of the real estate investment trust’s stock after acquiring an additional 10,662 shares during the period. Camden Property Trust accounts for approximately 1.1% of TT Capital Management LLC’s holdings, making the stock its 20th biggest position. TT Capital Management LLC’s holdings in Camden Property Trust were worth $2,269,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CPT. Squarepoint Ops LLC grew its position in shares of Camden Property Trust by 3,804.2% during the second quarter. Squarepoint Ops LLC now owns 107,327 shares of the real estate investment trust’s stock worth $12,288,000 after acquiring an additional 104,578 shares during the last quarter. CORDA Investment Management LLC. raised its holdings in shares of Camden Property Trust by 90.8% in the first quarter. CORDA Investment Management LLC. now owns 426,913 shares of the real estate investment trust’s stock valued at $41,692,000 after buying an additional 203,131 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Camden Property Trust by 100.2% during the first quarter. Jennison Associates LLC now owns 1,206,854 shares of the real estate investment trust’s stock worth $117,861,000 after buying an additional 603,997 shares during the period. Corient Private Wealth LP increased its position in Camden Property Trust by 38.2% in the 2nd quarter. Corient Private Wealth LP now owns 120,014 shares of the real estate investment trust’s stock valued at $13,740,000 after acquiring an additional 33,175 shares during the period. Finally, Empyrean Capital Partners LP acquired a new position in Camden Property Trust in the 1st quarter valued at about $9,180,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.
Camden Property Trust Price Performance
NYSE:CPT traded up $1.21 during trading hours on Thursday, hitting $98.45. The company’s stock had a trading volume of 221,650 shares, compared to its average volume of 1,133,120. The business’s 50-day moving average is $103.17 and its two-hundred day moving average is $106.51. The company has a market capitalization of $9.90 billion, a PE ratio of 32.59, a PEG ratio of 7.29 and a beta of 0.79. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.18 and a current ratio of 0.18. Camden Property Trust has a 52-week low of $95.30 and a 52-week high of $119.81.
Camden Property Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.06 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $4.24 dividend on an annualized basis and a yield of 4.3%. Camden Property Trust’s payout ratio is currently 140.40%.
Analyst Ratings Changes
A number of research firms have weighed in on CPT. Wells Fargo & Company decreased their price objective on Camden Property Trust from $113.00 to $110.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 1st. JPMorgan Chase & Co. lifted their price objective on shares of Camden Property Trust from $113.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Mizuho lowered their price objective on shares of Camden Property Trust from $125.00 to $116.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 8th. Piper Sandler dropped their price objective on shares of Camden Property Trust from $119.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $114.00 price objective on shares of Camden Property Trust in a research report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $112.08.
Get Our Latest Analysis on Camden Property Trust
Camden Property Trust Profile
Camden Property Trust (NYSE:CPT) is a real estate investment trust that owns, develops, acquires, and manages multifamily apartment communities. The company provides residential rental housing and related property-management services, with properties designed to serve a range of residents in major metropolitan areas.
Camden focuses primarily on high-growth markets in the Sun Belt, including communities in Texas, Florida, Georgia, North Carolina, Colorado, Arizona, Nevada, and Tennessee.
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