Renaissance Technologies LLC Sells 222,500 Shares of Camden Property Trust (NYSE:CPT)

Renaissance Technologies LLC lowered its position in Camden Property Trust (NYSE:CPT) by 59.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 150,900 shares of the real estate investment trust’s stock after selling 222,500 shares during the period. Renaissance Technologies LLC owned 0.14% of Camden Property Trust worth $16,465,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Camden Property Trust by 16.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191,374 shares of the real estate investment trust’s stock worth $18,831,000 after acquiring an additional 27,465 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Camden Property Trust by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 160,309 shares of the real estate investment trust’s stock worth $15,781,000 after acquiring an additional 5,926 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Camden Property Trust by 59.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 18,831 shares of the real estate investment trust’s stock worth $1,853,000 after acquiring an additional 7,018 shares in the last quarter. Pinebridge Investments L.P. bought a new position in Camden Property Trust during the 4th quarter valued at approximately $1,374,000. Finally, Eminence Capital LP bought a new position in Camden Property Trust during the 4th quarter valued at approximately $18,737,000. Institutional investors own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CPT. JPMorgan Chase & Co. raised their price objective on Camden Property Trust from $112.00 to $129.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Wedbush raised their price objective on Camden Property Trust from $118.00 to $131.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Scotiabank raised their price objective on Camden Property Trust from $125.00 to $132.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Camden Property Trust from $90.00 to $115.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company raised Camden Property Trust from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $104.00 to $127.00 in a research report on Monday, August 26th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Camden Property Trust presently has a consensus rating of “Hold” and an average target price of $121.69.

Camden Property Trust Stock Performance

CPT stock opened at $125.21 on Friday. The company has a market cap of $13.34 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 4.60 and a beta of 0.90. Camden Property Trust has a 1 year low of $82.81 and a 1 year high of $127.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s fifty day moving average price is $119.35 and its 200-day moving average price is $108.69.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The firm had revenue of $387.15 million during the quarter, compared to analysts’ expectations of $384.76 million. Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. During the same quarter last year, the business earned $1.70 earnings per share. On average, equities analysts forecast that Camden Property Trust will post 6.77 earnings per share for the current year.

Camden Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.12 annualized dividend and a yield of 3.29%. Camden Property Trust’s dividend payout ratio (DPR) is presently 100.98%.

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.