J. Safra Sarasin Holding AG trimmed its stake in shares of Camden Property Trust (NYSE:CPT – Free Report) by 48.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,893 shares of the real estate investment trust’s stock after selling 7,517 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Camden Property Trust were worth $843,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in CPT. Quent Capital LLC bought a new position in Camden Property Trust in the 3rd quarter valued at approximately $29,000. Loomis Sayles & Co. L P bought a new position in Camden Property Trust during the 2nd quarter worth $32,000. CYBER HORNET ETFs LLC acquired a new position in Camden Property Trust during the 2nd quarter worth about $32,000. True Wealth Design LLC grew its position in shares of Camden Property Trust by 234.4% in the 3rd quarter. True Wealth Design LLC now owns 321 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 225 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Camden Property Trust in the second quarter valued at about $35,000. Institutional investors and hedge funds own 97.22% of the company’s stock.
Camden Property Trust Price Performance
CPT opened at $108.82 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $11.58 billion, a P/E ratio of 44.06, a PEG ratio of 8.50 and a beta of 0.81. The stock has a 50-day moving average price of $107.28 and a 200-day moving average price of $106.88. Camden Property Trust has a 12-month low of $97.17 and a 12-month high of $126.55.
Camden Property Trust Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 17th were issued a dividend of $1.05 per share. The ex-dividend date was Wednesday, December 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.9%. Camden Property Trust’s dividend payout ratio is 170.04%.
Insider Transactions at Camden Property Trust
In related news, COO Laurie Baker sold 531 shares of Camden Property Trust stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $109.79, for a total transaction of $58,298.49. Following the sale, the chief operating officer directly owned 96,786 shares in the company, valued at $10,626,134.94. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard J. Campo sold 38,021 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $109.78, for a total value of $4,173,945.38. Following the transaction, the chief executive officer directly owned 301,156 shares of the company’s stock, valued at $33,060,905.68. This represents a 11.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,288 shares of company stock worth $5,741,857 over the last 90 days. 1.80% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Barclays increased their target price on shares of Camden Property Trust from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $105.00 price target on shares of Camden Property Trust in a report on Monday, November 10th. Royal Bank Of Canada decreased their price objective on Camden Property Trust from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Monday, November 10th. JPMorgan Chase & Co. raised shares of Camden Property Trust from an “underweight” rating to a “neutral” rating and set a $116.00 price target for the company in a research report on Thursday, December 18th. Finally, Mizuho upped their price objective on shares of Camden Property Trust from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, January 12th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Camden Property Trust currently has a consensus rating of “Hold” and an average target price of $117.34.
Check Out Our Latest Research Report on CPT
About Camden Property Trust
Camden Property Trust is a publicly traded real estate investment trust (REIT) specializing in the ownership, development and management of multifamily residential communities across the United States. The company’s core business activities include acquiring land for new construction, overseeing the design and development of garden-style and mid-rise apartment communities, and providing ongoing property management services. Camden’s asset management team focuses on maintaining high occupancy levels, resident satisfaction and operational efficiency through consistent leasing, maintenance and community engagement programs.
Camden’s portfolio encompasses a geographically diversified mix of properties located primarily in high-growth Sun Belt and major metropolitan markets.
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