Wealth Enhancement Advisory Services LLC Trims Stock Position in Camden Property Trust (NYSE:CPT)

Wealth Enhancement Advisory Services LLC lowered its position in shares of Camden Property Trust (NYSE:CPT) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,809 shares of the real estate investment trust’s stock after selling 191 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Camden Property Trust were worth $347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPT. Wellington Management Group LLP raised its holdings in Camden Property Trust by 86.9% in 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 purchasing an additional 918,078 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Camden Property Trust by 508.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 946,417 shares of the real estate investment trust’s stock valued at $116,911,000 after buying an additional 790,974 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Camden Property Trust by 97.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,279,266 shares of the real estate investment trust’s stock worth $158,028,000 after buying an additional 630,768 shares during the last quarter. Duquesne Family Office LLC acquired a new stake in Camden Property Trust in the second quarter valued at approximately $63,056,000. Finally, Heitman Real Estate Securities LLC increased its position in Camden Property Trust by 3,155.8% during the 3rd quarter. Heitman Real Estate Securities LLC now owns 449,295 shares of the real estate investment trust’s stock valued at $55,501,000 after buying an additional 435,495 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered Camden Property Trust from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $129.00 to $128.00 in a research note on Tuesday, December 17th. StockNews.com lowered shares of Camden Property Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Stifel Nicolaus lowered Camden Property Trust from a “buy” rating to a “hold” rating and raised their target price for the stock from $120.00 to $121.00 in a research note on Wednesday, November 13th. Scotiabank dropped their target price on Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Finally, Barclays began coverage on shares of Camden Property Trust in a research report on Tuesday, December 17th. They set an “overweight” rating and a $138.00 price target for the company. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $126.75.

Camden Property Trust Stock Performance

NYSE CPT opened at $112.64 on Friday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.72. Camden Property Trust has a twelve month low of $90.50 and a twelve month high of $127.69. The stock has a 50-day moving average of $118.31 and a 200 day moving average of $118.51. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 3.95 and a beta of 0.94.

Camden Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Wednesday, December 18th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Wednesday, December 18th. Camden Property Trust’s dividend payout ratio is presently 130.38%.

Insider Activity

In related news, Director Heather J. Brunner sold 1,853 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $212,168.50. Following the transaction, the director now directly owns 10,537 shares of the company’s stock, valued at approximately $1,206,486.50. This trade represents a 14.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Alexander J. Jessett sold 13,067 shares of Camden Property Trust stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $1,496,171.50. Following the completion of the sale, the chief financial officer now owns 124,246 shares in the company, valued at approximately $14,226,167. The trade was a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,413 shares of company stock worth $2,895,718 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

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.