DNB Asset Management AS Buys 2,413 Shares of Camden Property Trust (NYSE:CPT)

DNB Asset Management AS raised its stake in shares of Camden Property Trust (NYSE:CPT) by 16.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,382 shares of the real estate investment trust’s stock after purchasing an additional 2,413 shares during the quarter. DNB Asset Management AS’s holdings in Camden Property Trust were worth $1,897,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Camden Property Trust by 16.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191,374 shares of the real estate investment trust’s stock valued at $18,831,000 after purchasing an additional 27,465 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Camden Property Trust by 3.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 160,309 shares of the real estate investment trust’s stock valued at $15,781,000 after purchasing an additional 5,926 shares during the period. Illinois Municipal Retirement Fund increased its position in Camden Property Trust by 59.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 18,831 shares of the real estate investment trust’s stock valued at $1,853,000 after purchasing an additional 7,018 shares during the period. Pinebridge Investments L.P. purchased a new position in Camden Property Trust during the 4th quarter valued at $1,374,000. Finally, Twin Capital Management Inc. purchased a new position in Camden Property Trust during the 4th quarter valued at $811,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Price Performance

CPT opened at $117.71 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $12.54 billion, a P/E ratio of 28.73, a P/E/G ratio of 4.50 and a beta of 0.88. The company’s 50-day simple moving average is $109.46 and its two-hundred day simple moving average is $102.44. Camden Property Trust has a 52-week low of $82.81 and a 52-week high of $121.29.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($1.27). The company had revenue of $387.15 million for the quarter, compared to the consensus estimate of $384.76 million. Camden Property Trust had a net margin of 25.64% and a return on equity of 7.95%. During the same quarter in the prior year, the company posted $1.70 EPS. As a group, analysts predict that Camden Property Trust will post 6.73 EPS for the current year.

Camden Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, June 28th. Camden Property Trust’s dividend payout ratio (DPR) is presently 100.98%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CPT shares. Wells Fargo & Company upped their target price on shares of Camden Property Trust from $92.00 to $104.00 and gave the stock an “underweight” rating in a research report on Friday, May 31st. StockNews.com raised shares of Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. UBS Group upped their target price on shares of Camden Property Trust from $109.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Morgan Stanley upped their target price on shares of Camden Property Trust from $98.00 to $105.50 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Finally, Truist Financial upped their target price on shares of Camden Property Trust from $114.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Camden Property Trust presently has a consensus rating of “Hold” and an average price target of $109.14.

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 58,634 apartment homes across the United States.