Mutual of America Capital Management LLC Increases Stake in Camden Property Trust (NYSE:CPT)

Mutual of America Capital Management LLC raised its holdings in shares of Camden Property Trust (NYSE:CPT) by 17.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,114 shares of the real estate investment trust’s stock after buying an additional 4,964 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Camden Property Trust were worth $3,722,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Camden Property Trust by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,597,441 shares of the real estate investment trust’s stock valued at $174,299,000 after acquiring an additional 54,475 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Camden Property Trust by 12.4% in the second quarter. Envestnet Asset Management Inc. now owns 222,545 shares of the real estate investment trust’s stock valued at $24,282,000 after purchasing an additional 24,591 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Camden Property Trust in the second quarter valued at approximately $33,000. American Century Companies Inc. lifted its position in Camden Property Trust by 690.1% during the second quarter. American Century Companies Inc. now owns 248,533 shares of the real estate investment trust’s stock worth $27,117,000 after buying an additional 217,076 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new position in Camden Property Trust during the second quarter worth $305,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Mizuho cut their target price on Camden Property Trust from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. UBS Group raised their price objective on shares of Camden Property Trust from $109.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Wells Fargo & Company upgraded shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $104.00 to $127.00 in a report on Monday, August 26th. Scotiabank raised their price target on shares of Camden Property Trust from $125.00 to $132.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Finally, Piper Sandler upped their price objective on Camden Property Trust from $110.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $121.69.

Camden Property Trust Stock Performance

NYSE CPT opened at $125.21 on Monday. 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 company has a market cap of $13.34 billion, a P/E ratio of 30.69, a P/E/G ratio of 4.60 and a beta of 0.90. The stock has a 50-day moving average of $119.35 and a two-hundred day moving average of $108.76. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $127.38.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $384.76 million. During the same quarter last year, the firm posted $1.70 EPS. As a group, analysts anticipate that Camden Property Trust will post 6.77 EPS for the current year.

Camden Property Trust Announces Dividend

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

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 58,250 apartment homes across the United States.