Transcend Capital Advisors LLC Makes New Investment in Camden Property Trust $CPT

Transcend Capital Advisors LLC bought a new position in Camden Property Trust (NYSE:CPT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,918 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Centersquare Investment Management LLC raised its position in shares of Camden Property Trust by 3.6% during the 1st quarter. Centersquare Investment Management LLC now owns 2,614,150 shares of the real estate investment trust’s stock valued at $319,711,000 after buying an additional 91,752 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Camden Property Trust by 9.2% during the 1st quarter. Wellington Management Group LLP now owns 2,271,077 shares of the real estate investment trust’s stock valued at $277,753,000 after buying an additional 192,133 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Camden Property Trust by 17.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,863,792 shares of the real estate investment trust’s stock valued at $227,942,000 after buying an additional 273,966 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Camden Property Trust by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,538,038 shares of the real estate investment trust’s stock valued at $188,102,000 after buying an additional 23,488 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Camden Property Trust by 2.3% during the 1st quarter. Northern Trust Corp now owns 1,452,031 shares of the real estate investment trust’s stock valued at $177,583,000 after buying an additional 31,955 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Trading Up 1.7%

NYSE:CPT opened at $99.27 on Friday. The company has a 50-day moving average price of $106.24 and a 200-day moving average price of $111.10. Camden Property Trust has a 12 month low of $97.17 and a 12 month high of $127.65. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.82. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 69.42, a P/E/G ratio of 3.31 and a beta of 0.80.

Camden Property Trust (NYSE:CPT) last posted its 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. Camden Property Trust had a net margin of 9.99% and a return on equity of 3.30%. The firm had revenue of $396.51 million during the quarter, compared to analysts’ expectations of $393.24 million. During the same period last year, the company posted $1.71 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Camden Property Trust’s dividend payout ratio (DPR) is currently 293.71%.

Analysts Set New Price Targets

Several analysts have recently weighed in on CPT shares. Weiss Ratings restated a “hold (c)” rating on shares of Camden Property Trust in a research report on Wednesday, October 8th. UBS Group reduced their target price on shares of Camden Property Trust from $126.00 to $114.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Truist Financial reduced their target price on shares of Camden Property Trust from $131.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, August 27th. Wells Fargo & Company reduced their target price on shares of Camden Property Trust from $112.00 to $111.00 and set an “equal weight” rating on the stock in a report on Monday, October 13th. Finally, Citigroup cut their price target on shares of Camden Property Trust from $138.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $121.61.

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.