Naviter Wealth LLC Lowers Stock Position in Camden Property Trust (NYSE:CPT)

Naviter Wealth LLC trimmed its stake in Camden Property Trust (NYSE:CPT) by 32.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,131 shares of the real estate investment trust’s stock after selling 1,032 shares during the period. Naviter Wealth LLC’s holdings in Camden Property Trust were worth $265,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Security National Bank increased its holdings in Camden Property Trust by 1.2% in the 2nd quarter. Security National Bank now owns 8,267 shares of the real estate investment trust’s stock valued at $902,000 after purchasing an additional 101 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Camden Property Trust by 3.8% in the first quarter. William Blair Investment Management LLC now owns 3,002 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 109 shares in the last quarter. ERn Financial LLC raised its holdings in shares of Camden Property Trust by 2.0% in the 1st quarter. ERn Financial LLC now owns 6,136 shares of the real estate investment trust’s stock valued at $604,000 after buying an additional 118 shares during the period. Raymond James Trust N.A. lifted its stake in Camden Property Trust by 6.1% during the 2nd quarter. Raymond James Trust N.A. now owns 2,516 shares of the real estate investment trust’s stock worth $275,000 after acquiring an additional 144 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Camden Property Trust by 0.5% during the 2nd quarter. ProShare Advisors LLC now owns 31,349 shares of the real estate investment trust’s stock valued at $3,420,000 after acquiring an additional 146 shares during the period. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $119.32 on Friday. The stock has a 50 day moving average of $122.44 and a two-hundred day moving average of $111.72. Camden Property Trust has a twelve month low of $82.81 and a twelve month high of $127.69. The stock has a market cap of $12.71 billion, a P/E ratio of 29.25, a P/E/G ratio of 4.51 and a beta of 0.90. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.72.

Camden Property Trust (NYSE:CPT) last announced its 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). The business had revenue of $387.15 million for the quarter, compared to analyst estimates 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 company posted $1.70 EPS. On average, research analysts forecast that Camden Property Trust will post 6.77 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were paid a $1.03 dividend. The ex-dividend date was Monday, September 30th. This represents a $4.12 annualized dividend and a yield of 3.45%. Camden Property Trust’s dividend payout ratio is currently 100.98%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CPT. BNP Paribas began coverage on shares of Camden Property Trust in a research report on Wednesday, September 11th. They set a “neutral” rating and a $129.00 price target on the stock. Truist Financial raised their price target on shares of Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Evercore ISI increased their price objective on Camden Property Trust from $116.00 to $118.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Jefferies Financial Group initiated coverage on Camden Property Trust in a research note on Friday, October 11th. They set a “hold” rating and a $123.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on Camden Property Trust in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $139.00 price objective for the company. Fifteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $121.76.

Camden Property Trust 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.