First Sabrepoint Capital Management LP Sells 15,000 Shares of Camden Property Trust (NYSE:CPT)

First Sabrepoint Capital Management LP lowered its holdings in Camden Property Trust (NYSE:CPT) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and 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 comprises about 2.0% of First Sabrepoint Capital Management LP’s portfolio, making the stock its 18th largest holding. First Sabrepoint Capital Management LP’s holdings in Camden Property Trust were worth $7,543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Camden Property Trust during the fourth quarter worth approximately $187,606,000. Invesco Ltd. increased its holdings in shares of Camden Property Trust by 17.3% during the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust’s stock worth $344,432,000 after buying an additional 438,685 shares in the last quarter. Northern Trust Corp boosted its position in Camden Property Trust by 33.7% during the 4th quarter. Northern Trust Corp now owns 1,420,076 shares of the real estate investment trust’s stock worth $164,786,000 after buying an additional 357,718 shares during the period. Centersquare Investment Management LLC grew its stake in shares of Camden Property Trust by 15.9% in the fourth quarter. Centersquare Investment Management LLC now owns 2,522,398 shares of the real estate investment trust’s stock worth $292,699,000 after purchasing an additional 345,331 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Camden Property Trust by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock worth $510,674,000 after acquiring an additional 277,117 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CPT shares. Scotiabank boosted their target price on shares of Camden Property Trust from $130.00 to $135.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. Truist Financial boosted their target price on shares of Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Jefferies Financial Group upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and upped their target price for the stock from $117.00 to $139.00 in a research note on Monday, March 10th. Citigroup raised shares of Camden Property Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $125.00 to $138.00 in a report on Friday, March 28th. Finally, Evercore ISI boosted their target price on Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $127.61.

Insiders Place Their Bets

In related news, CEO Richard J. Campo sold 5,572 shares of the firm’s 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 directly owns 289,720 shares of the company’s stock, valued at approximately $34,621,540. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Camden Property Trust Price Performance

CPT stock opened at $117.40 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 78.27, a PEG ratio of 4.41 and a beta of 0.79. The firm has a 50 day moving average price of $116.53 and a 200-day moving average price of $117.44. Camden Property Trust has a 52-week low of $98.35 and a 52-week high of $127.69.

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

Camden Property Trust Profile

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.