Wealthfront Advisers LLC trimmed its stake in Camden Property Trust (NYSE:CPT – Get Rating) by 17.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,845 shares of the real estate investment trust's stock after selling 3,628 shares during the quarter. Wealthfront Advisers LLC's holdings in Camden Property Trust were worth $2,265,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its stake in Camden Property Trust by 7.4% in the first quarter. Parallel Advisors LLC now owns 1,018 shares of the real estate investment trust's stock valued at $173,000 after acquiring an additional 70 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Camden Property Trust by 0.6% in the first quarter. Crossmark Global Holdings Inc. now owns 11,268 shares of the real estate investment trust's stock valued at $1,873,000 after purchasing an additional 70 shares during the period. Veritable L.P. raised its position in shares of Camden Property Trust by 5.3% in the first quarter. Veritable L.P. now owns 1,577 shares of the real estate investment trust's stock valued at $262,000 after purchasing an additional 79 shares during the period. Hotaling Investment Management LLC raised its position in shares of Camden Property Trust by 0.6% in the first quarter. Hotaling Investment Management LLC now owns 13,148 shares of the real estate investment trust's stock valued at $2,185,000 after purchasing an additional 80 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its position in shares of Camden Property Trust by 2.6% in the first quarter. Legacy Wealth Asset Management LLC now owns 3,490 shares of the real estate investment trust's stock valued at $580,000 after purchasing an additional 87 shares during the period. 94.08% of the stock is currently owned by hedge funds and other institutional investors.
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Insider Transactions at Camden Property Trust
In other news, Director Kelvin R. Westbrook sold 1,820 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $130.77, for a total value of $238,001.40. Following the transaction, the director now owns 24,932 shares of the company's stock, valued at approximately $3,260,357.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company's stock.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Camden Property Trust from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, August 1st. Truist Financial boosted their price target on shares of Camden Property Trust from $149.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, August 18th. The Goldman Sachs Group boosted their price target on shares of Camden Property Trust from $143.00 to $158.00 and gave the company a "neutral" rating in a research report on Tuesday, August 16th. Capital One Financial reaffirmed an "overweight" rating on shares of Camden Property Trust in a report on Thursday, August 18th. Finally, Barclays decreased their target price on shares of Camden Property Trust from $174.00 to $169.00 and set an "overweight" rating on the stock in a report on Thursday, September 15th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $162.77.
Camden Property Trust Price Performance
Shares of NYSE:CPT opened at $119.45 on Monday. The company's fifty day moving average price is $133.40 and its 200-day moving average price is $142.68. The firm has a market capitalization of $12.72 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.25 and a beta of 0.78. Camden Property Trust has a one year low of $116.77 and a one year high of $180.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.33 and a quick ratio of 0.33.
Camden Property Trust Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, September 29th. Camden Property Trust's payout ratio is 49.41%.
About Camden Property Trust
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Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.
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