Wolverine Asset Management LLC Grows Stock Position in Camden Property Trust $CPT

Wolverine Asset Management LLC increased its holdings in shares of Camden Property Trust (NYSE:CPT) by 60.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,841 shares of the real estate investment trust’s stock after acquiring an additional 2,204 shares during the period. Wolverine Asset Management LLC’s holdings in Camden Property Trust were worth $658,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CPT. Millennium Management LLC grew its position in shares of Camden Property Trust by 1,669.3% during the 1st quarter. Millennium Management LLC now owns 1,078,335 shares of the real estate investment trust’s stock valued at $131,880,000 after acquiring an additional 1,017,388 shares during the period. Nuveen LLC acquired a new stake in shares of Camden Property Trust during the 1st quarter valued at about $123,882,000. Jennison Associates LLC grew its position in shares of Camden Property Trust by 87.3% during the 2nd quarter. Jennison Associates LLC now owns 1,013,719 shares of the real estate investment trust’s stock valued at $114,236,000 after acquiring an additional 472,623 shares during the period. Woodline Partners LP acquired a new stake in shares of Camden Property Trust during the 1st quarter valued at about $45,879,000. Finally, JPMorgan Chase & Co. grew 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 acquiring an additional 273,966 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group dropped their target price on Camden Property Trust from $126.00 to $114.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. Stifel Nicolaus upgraded Camden Property Trust from a “hold” rating to a “buy” rating and set a $122.75 target price on the stock in a research report on Tuesday, August 26th. Wall Street Zen upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Piper Sandler dropped their target price on Camden Property Trust from $130.00 to $117.00 and set a “neutral” rating on the stock in a research report on Monday, August 4th. Finally, Citigroup lowered their price objective on 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 given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $121.61.

Camden Property Trust Trading Up 0.2%

CPT stock opened at $99.51 on Monday. 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 $97.17 and a 12-month high of $127.65. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 3.31 and a beta of 0.80. The business’s 50-day moving average is $106.04 and its 200 day moving average is $111.02.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.01. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%.The company had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $393.24 million. During the same period in the previous year, the firm posted $1.71 EPS. Camden Property Trust’s revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Camden Property Trust will post 6.76 EPS for the current fiscal 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 issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Tuesday, September 30th. Camden Property Trust’s payout ratio is currently 293.71%.

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.