Bedell Frazier Investment Counselling LLC Sells 30,304 Shares of Camden Property Trust (NYSE:CPT)

Bedell Frazier Investment Counselling LLC reduced its stake in Camden Property Trust (NYSE:CPT) by 78.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,208 shares of the real estate investment trust’s stock after selling 30,304 shares during the period. Bedell Frazier Investment Counselling LLC’s holdings in Camden Property Trust were worth $952,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CPT. The Manufacturers Life Insurance Company grew its holdings in Camden Property Trust by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 107,361 shares of the real estate investment trust’s stock valued at $13,262,000 after buying an additional 2,590 shares in the last quarter. Townsquare Capital LLC bought a new position in shares of Camden Property Trust in the third quarter valued at approximately $294,000. Glenmede Trust Co. NA purchased a new position in Camden Property Trust during the third quarter valued at approximately $223,000. CreativeOne Wealth LLC bought a new stake in Camden Property Trust during the 3rd quarter worth approximately $248,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Camden Property Trust by 508.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 946,417 shares of the real estate investment trust’s stock worth $116,911,000 after purchasing an additional 790,974 shares in the last quarter. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Camden Property Trust Stock Performance

Shares of CPT stock opened at $122.17 on Monday. The company has a market capitalization of $13.04 billion, a P/E ratio of 81.45, a PEG ratio of 4.41 and a beta of 0.94. Camden Property Trust has a fifty-two week low of $94.75 and a fifty-two week high of $127.69. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. The stock has a 50 day moving average price of $118.57 and a two-hundred day moving average price of $119.20.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 EPS for the quarter, topping the consensus estimate of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. Analysts expect that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.05 per share. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, March 31st. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.44%. Camden Property Trust’s payout ratio is presently 280.00%.

Insider Activity at Camden Property Trust

In other news, CFO Alexander J. Jessett sold 13,067 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $1,496,171.50. Following the sale, the chief financial officer now directly owns 124,246 shares of the company’s stock, valued at $14,226,167. This represents a 9.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heather J. Brunner sold 1,853 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction of $212,168.50. Following the completion of the sale, the director now owns 10,537 shares in the company, valued at approximately $1,206,486.50. This trade represents a 14.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,548 shares of company stock worth $2,912,212 over the last 90 days. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial boosted their price target on shares of Camden Property Trust from $122.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Wells Fargo & Company reduced their target price on Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Stifel Nicolaus raised their price target on Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a report on Friday, February 7th. Scotiabank boosted their price objective on Camden Property Trust from $130.00 to $135.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Finally, Evercore ISI lifted their target price on shares of Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $127.76.

Camden Property Trust Company 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.