JPMorgan Chase & Co. Increases Stock Holdings in Camden Property Trust (NYSE:CPT)

JPMorgan Chase & Co. lifted its stake in Camden Property Trust (NYSE:CPT) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,863,792 shares of the real estate investment trust’s stock after purchasing an additional 273,966 shares during the quarter. JPMorgan Chase & Co. owned about 1.74% of Camden Property Trust worth $227,942,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bellwether Advisors LLC purchased a new position in shares of Camden Property Trust in the 4th quarter worth approximately $31,000. Tsfg LLC purchased a new position in shares of Camden Property Trust in the 1st quarter worth approximately $40,000. Allworth Financial LP boosted its holdings in shares of Camden Property Trust by 47.4% in the 1st quarter. Allworth Financial LP now owns 491 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 158 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Camden Property Trust in the 1st quarter worth approximately $64,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Camden Property Trust in the 1st quarter worth approximately $73,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Insider Activity at Camden Property Trust

In other news, Director Steven A. Webster sold 1,200 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $118.76, for a total value of $142,512.00. Following the completion of the transaction, the director directly owned 117,374 shares of the company’s stock, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CPT. JPMorgan Chase & Co. boosted their price objective on Camden Property Trust from $127.00 to $129.00 and gave the company an “underweight” rating in a report on Tuesday, June 17th. Royal Bank Of Canada dropped their price objective on Camden Property Trust from $120.00 to $118.00 and set a “sector perform” rating for the company in a report on Monday, August 4th. Barclays dropped their price objective on Camden Property Trust from $137.00 to $128.00 and set an “overweight” rating for the company in a report on Tuesday. Scotiabank dropped their price objective on Camden Property Trust from $144.00 to $136.00 and set a “sector perform” rating for the company in a report on Friday, June 13th. Finally, Morgan Stanley dropped their price objective on Camden Property Trust from $130.00 to $124.00 and set an “equal weight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $125.59.

Camden Property Trust Trading Up 2.0%

CPT opened at $106.98 on Thursday. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 74.81, a PEG ratio of 3.56 and a beta of 0.78. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.82. Camden Property Trust has a 12 month low of $102.35 and a 12 month high of $127.69. The stock has a fifty day moving average price of $112.96 and a 200-day moving average price of $115.66.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 EPS for the quarter, topping the consensus estimate of $1.69 by $0.01. The firm had revenue of $396.51 million during the quarter, compared to analyst estimates of $393.24 million. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 EPS. As a group, equities research analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, June 30th. Camden Property Trust’s payout ratio is presently 293.71%.

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.