Carronade Capital Management LP Raises Stock Holdings in Camden Property Trust (NYSE:CPT)

Carronade Capital Management LP lifted its stake in shares of Camden Property Trust (NYSE:CPT) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,750 shares of the real estate investment trust’s stock after acquiring an additional 3,588 shares during the period. Camden Property Trust accounts for approximately 0.5% of Carronade Capital Management LP’s portfolio, making the stock its 19th biggest holding. Carronade Capital Management LP owned 0.07% of Camden Property Trust worth $8,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPT. Federated Hermes Inc. boosted its holdings in shares of Camden Property Trust by 6.5% during the fourth quarter. Federated Hermes Inc. now owns 1,466 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 90 shares during the last quarter. UMB Bank n.a. lifted its position in Camden Property Trust by 76.6% during the fourth quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 98 shares during the period. First American Bank boosted its stake in Camden Property Trust by 1.0% in the 4th quarter. First American Bank now owns 10,846 shares of the real estate investment trust’s stock worth $1,259,000 after buying an additional 104 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Camden Property Trust by 2.5% in the 4th quarter. Fisher Asset Management LLC now owns 4,297 shares of the real estate investment trust’s stock valued at $499,000 after buying an additional 105 shares during the period. Finally, Doliver Advisors LP increased its stake in shares of Camden Property Trust by 6.7% during the 4th quarter. Doliver Advisors LP now owns 1,801 shares of the real estate investment trust’s stock valued at $209,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Wall Street Analyst Weigh In

CPT has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of Camden Property Trust from $122.00 to $129.00 and gave the company a “buy” rating in a report on Monday, March 10th. Citigroup raised shares of Camden Property Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $125.00 to $138.00 in a research note on Friday, March 28th. Wells Fargo & Company cut their target price on Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Stifel Nicolaus lifted their target price on Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group upgraded Camden Property Trust from a “hold” rating to a “buy” rating and upped their price target for the stock from $117.00 to $139.00 in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Camden Property Trust has an average rating of “Hold” and an average price target of $127.61.

Camden Property Trust Price Performance

CPT opened at $120.92 on Monday. Camden Property Trust has a twelve month low of $98.35 and a twelve month high of $127.69. The firm has a market cap of $13.16 billion, a price-to-earnings ratio of 80.61, a PEG ratio of 4.41 and a beta of 0.79. The company has a current ratio of 0.14, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $116.91 and a 200 day simple moving average of $117.43.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. Camden Property Trust had a return on equity of 3.35% and a net margin of 10.58%. The company had revenue of $390.57 million during the quarter, compared to the consensus estimate of $388.47 million. During the same period last year, the firm earned $1.70 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, March 31st were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. Camden Property Trust’s dividend payout ratio (DPR) is presently 280.00%.

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 58,250 apartment homes across the United States.