PNC Financial Services Group Inc. Lowers Holdings in Camden Property Trust (NYSE:CPT)

PNC Financial Services Group Inc. reduced its stake in shares of Camden Property Trust (NYSE:CPT) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,443 shares of the real estate investment trust’s stock after selling 1,867 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Camden Property Trust were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in Camden Property Trust by 60.8% during the third quarter. Parkside Financial Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 144 shares during the last quarter. Tobam boosted its position 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 during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Camden Property Trust by 23.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 636 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 119 shares in the last quarter. Quarry LP grew its holdings in shares of Camden Property Trust by 1,081.5% in the fourth quarter. Quarry LP now owns 638 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 584 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in Camden Property Trust in the third quarter worth $69,000. Institutional investors own 97.22% of the company’s stock.

Camden Property Trust Price Performance

Shares of CPT stock opened at $109.70 on Monday. The company has a market capitalization of $11.69 billion, a P/E ratio of 26.89, a P/E/G ratio of 4.28 and a beta of 0.86. The company’s 50-day simple moving average is $103.74 and its two-hundred day simple moving average is $99.48. Camden Property Trust has a one year low of $82.81 and a one year high of $114.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.43 and a quick ratio of 0.43.

Camden Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 17th. Investors of record on Friday, June 28th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $4.12 annualized dividend and a yield of 3.76%. Camden Property Trust’s dividend payout ratio (DPR) is currently 100.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CPT shares. Wells Fargo & Company increased their price objective on shares of Camden Property Trust from $92.00 to $104.00 and gave the company an “underweight” rating in a research report on Friday, May 31st. Wedbush lifted their price target on Camden Property Trust from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. StockNews.com raised Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. raised their price objective on Camden Property Trust from $104.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Finally, Morgan Stanley boosted their target price on Camden Property Trust from $98.00 to $105.50 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Camden Property Trust currently has a consensus rating of “Hold” and an average target price of $106.86.

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 58,634 apartment homes across the United States.