Camden Property Trust (NYSE:CPT) Stock Position Trimmed by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its position in Camden Property Trust (NYSE:CPT) by 53.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,496 shares of the real estate investment trust’s stock after selling 5,209 shares during the period. Mackenzie Financial Corp’s holdings in Camden Property Trust were worth $491,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in 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 buying an additional 27,465 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Camden Property Trust by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 160,309 shares of the real estate investment trust’s stock valued at $15,781,000 after purchasing an additional 5,926 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of Camden Property Trust by 59.4% during the first quarter. Illinois Municipal Retirement Fund now owns 18,831 shares of the real estate investment trust’s stock valued at $1,853,000 after purchasing an additional 7,018 shares during the period. Pinebridge Investments L.P. bought a new stake in shares of Camden Property Trust during the fourth quarter valued at about $1,374,000. Finally, Eminence Capital LP acquired a new stake in Camden Property Trust in the fourth quarter worth about $18,737,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CPT shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Camden Property Trust from $90.00 to $115.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Truist Financial boosted their target price on Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Scotiabank increased their price target on Camden Property Trust from $125.00 to $132.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Wells Fargo & Company upgraded Camden Property Trust from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $104.00 to $127.00 in a report on Monday, August 26th. Finally, UBS Group lifted their target price on Camden Property Trust from $109.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Camden Property Trust presently has an average rating of “Hold” and an average price target of $121.69.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $120.86 on Friday. The company’s fifty day moving average is $121.66 and its two-hundred day moving average is $110.44. The company has a market cap of $12.88 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 4.76 and a beta of 0.90. Camden Property Trust has a 12-month low of $82.81 and a 12-month high of $127.69. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.72.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($1.27). Camden Property Trust had a net margin of 25.64% and a return on equity of 7.98%. The business had revenue of $387.15 million for the quarter, compared to analyst estimates of $384.76 million. During the same period in the previous year, the firm posted $1.70 earnings per share. Equities analysts expect that Camden Property Trust will post 6.77 earnings per share for the current fiscal year.

Camden Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.12 annualized dividend and a yield of 3.41%. Camden Property Trust’s dividend payout ratio 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.