State of Michigan Retirement System Grows Holdings in Camden Property Trust (NYSE:CPT)

State of Michigan Retirement System increased its holdings in Camden Property Trust (NYSE:CPT) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,200 shares of the real estate investment trust’s stock after purchasing an additional 800 shares during the quarter. State of Michigan Retirement System’s holdings in Camden Property Trust were worth $3,736,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Camden Property Trust by 0.5% during the 3rd quarter. State Street Corp now owns 7,118,930 shares of the real estate investment trust’s stock worth $886,693,000 after buying an additional 36,528 shares during the period. FMR LLC increased its holdings in Camden Property Trust by 14.5% in the 3rd quarter. FMR LLC now owns 3,297,370 shares of the real estate investment trust’s stock worth $407,324,000 after acquiring an additional 416,701 shares in the last quarter. Geode Capital Management LLC raised its position in Camden Property Trust by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,739,831 shares of the real estate investment trust’s stock worth $337,394,000 after acquiring an additional 20,097 shares during the period. Wellington Management Group LLP raised its position in Camden Property Trust by 86.9% during the third quarter. Wellington Management Group LLP now owns 1,974,842 shares of the real estate investment trust’s stock worth $243,952,000 after acquiring an additional 918,078 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Camden Property Trust by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,498,742 shares of the real estate investment trust’s stock valued at $185,140,000 after purchasing an additional 51,742 shares in the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Camden Property Trust news, Director Heather J. Brunner sold 264 shares of Camden Property Trust stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $29,055.84. Following the completion of the sale, the director now directly owns 10,273 shares in the company, valued at $1,130,646.38. This trade represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Campo sold 1,043 shares of Camden Property Trust stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $114,792.58. Following the sale, the chief executive officer now owns 299,092 shares of the company’s stock, valued at approximately $32,918,065.52. This represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,413 shares of company stock valued at $2,895,718. 1.80% of the stock is currently owned by insiders.

Camden Property Trust Price Performance

Camden Property Trust stock opened at $121.38 on Friday. The company has a 50-day moving average price of $116.27 and a 200 day moving average price of $119.55. The stock has a market cap of $12.96 billion, a P/E ratio of 80.92, a PEG ratio of 4.41 and a beta of 0.94. The company has a current ratio of 0.14, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. Camden Property Trust has a 12-month low of $94.75 and a 12-month high of $127.69.

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

Camden Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.46%. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, March 31st. Camden Property Trust’s dividend payout ratio (DPR) is presently 280.00%.

Wall Street Analysts Forecast Growth

CPT has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Camden Property Trust from $121.00 to $123.00 and gave the stock a “sector perform” rating in a research report on Monday, February 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 report on Friday, January 24th. Scotiabank increased their target price on Camden Property Trust from $130.00 to $135.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. Evercore ISI increased their target price on Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. downgraded Camden Property Trust from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $129.00 to $128.00 in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $126.53.

Camden Property Trust 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.