Mackenzie Financial Corp Has $928,000 Stake in Camden Property Trust (NYSE:CPT)

Mackenzie Financial Corp decreased its position in shares of Camden Property Trust (NYSE:CPT) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,346 shares of the real estate investment trust’s stock after selling 743 shares during the quarter. Mackenzie Financial Corp’s holdings in Camden Property Trust were worth $928,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CPT. Parkside Financial Bank & Trust boosted its holdings in shares of Camden Property Trust by 60.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 144 shares in the last quarter. Tobam boosted its holdings in shares of Camden Property Trust by 4,166.7% during the 4th quarter. Tobam now owns 384 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 375 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Camden Property Trust during the 3rd quarter valued at $69,000. Covestor Ltd boosted its holdings in shares of Camden Property Trust by 43.0% during the 3rd quarter. Covestor Ltd now owns 1,990 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 598 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Camden Property Trust during the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

Camden Property Trust Stock Performance

Shares of CPT opened at $98.19 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a 50-day moving average of $97.24 and a 200-day moving average of $95.15. The company has a market cap of $10.69 billion, a PE ratio of 26.54, a P/E/G ratio of 3.70 and a beta of 0.83. Camden Property Trust has a one year low of $82.81 and a one year high of $114.04.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.72 by $0.31. The company had revenue of $387.59 million during the quarter, compared to the consensus estimate of $387.33 million. Camden Property Trust had a return on equity of 8.07% and a net margin of 26.15%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $1.74 EPS. On average, equities research analysts predict that Camden Property Trust will post 6.72 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, March 29th were paid a $1.03 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 4.20%. Camden Property Trust’s dividend payout ratio (DPR) is currently 111.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CPT shares. Piper Sandler reissued an “underweight” rating and set a $90.00 price objective on shares of Camden Property Trust in a report on Tuesday, March 26th. Truist Financial raised their target price on Camden Property Trust from $113.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Camden Property Trust in a research report on Tuesday, January 30th. They set a “hold” rating and a $90.00 target price for the company. Morgan Stanley raised their target price on Camden Property Trust from $95.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, Barclays lowered Camden Property Trust from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $138.00 to $100.00 in a research report on Tuesday, February 20th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Camden Property Trust has an average rating of “Hold” and a consensus price target of $104.29.

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.