Park Avenue Securities LLC Boosts Stake in Camden Property Trust (NYSE:CPT)

Park Avenue Securities LLC raised its holdings in Camden Property Trust (NYSE:CPT) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,501 shares of the real estate investment trust’s stock after acquiring an additional 340 shares during the period. Park Avenue Securities LLC’s holdings in Camden Property Trust were worth $522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in Camden Property Trust in the second quarter valued at approximately $33,000. Neo Ivy Capital Management bought a new position in shares of Camden Property Trust in the 3rd quarter worth $38,000. American Capital Advisory LLC raised its position in shares of Camden Property Trust by 42.7% during the 3rd quarter. American Capital Advisory LLC now owns 428 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 128 shares in the last quarter. Sentry Investment Management LLC purchased a new stake in shares of Camden Property Trust during the 3rd quarter valued at $62,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Camden Property Trust by 77.7% during the 4th quarter. Versant Capital Management Inc now owns 716 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Insider Activity at Camden Property Trust

In other news, Director Heather J. Brunner sold 264 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total value of $29,055.84. Following the sale, the director now directly owns 10,273 shares of the company’s stock, valued at $1,130,646.38. The trade was a 2.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard J. Campo sold 7,324 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $838,598.00. Following the transaction, the chief executive officer now directly owns 300,135 shares of the company’s stock, valued at approximately $34,365,457.50. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,413 shares of company stock worth $2,895,718 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $109.96 on Friday. Camden Property Trust has a 1 year low of $90.50 and a 1 year high of $127.69. The stock has a market capitalization of $11.73 billion, a P/E ratio of 34.80, a P/E/G ratio of 4.09 and a beta of 0.94. The company’s 50-day moving average is $117.72 and its 200 day moving average is $118.67. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.15.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Wednesday, December 18th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Wednesday, December 18th. Camden Property Trust’s payout ratio is presently 130.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Mizuho lowered their price target on Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $121.00 price objective on shares of Camden Property Trust in a report on Wednesday. Scotiabank reduced their price target on shares of 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. StockNews.com lowered shares of Camden Property Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lowered shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $129.00 to $128.00 in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $126.42.

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.