Norges Bank Takes Position in Camden Property Trust (NYSE:CPT)

Norges Bank bought a new stake in shares of Camden Property Trust (NYSE:CPT) during the 4th quarter, HoldingsChannel.com reports. The fund bought 1,616,739 shares of the real estate investment trust’s stock, valued at approximately $187,606,000.

A number of other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of Camden Property Trust by 86.9% during the third quarter. Wellington Management Group LLP now owns 1,974,842 shares of the real estate investment trust’s stock valued at $243,952,000 after buying an additional 918,078 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Camden Property Trust by 508.9% during 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 worth $116,911,000 after acquiring an additional 790,974 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Camden Property Trust by 97.3% during 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 acquiring an additional 630,768 shares during the last quarter. Heitman Real Estate Securities LLC increased its stake in Camden Property Trust by 3,155.8% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 449,295 shares of the real estate investment trust’s stock worth $55,501,000 after purchasing an additional 435,495 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Camden Property Trust by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock valued at $510,674,000 after purchasing an additional 277,117 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Analysts Set New Price Targets

CPT has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $129.00 to $128.00 in a research note on Tuesday, December 17th. Mizuho decreased their price objective on shares of 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. Citigroup upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $125.00 to $138.00 in a report on Friday. Stifel Nicolaus boosted their price target on Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company dropped their price objective on Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $127.76.

Camden Property Trust Trading Up 0.2 %

Shares of NYSE CPT opened at $122.17 on Monday. Camden Property Trust has a 1 year low of $94.75 and a 1 year high of $127.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.14 and a quick ratio of 0.15. The firm has a 50-day moving average of $118.57 and a 200 day moving average of $119.20. The stock has a market cap of $13.04 billion, a P/E ratio of 81.45, a price-to-earnings-growth ratio of 4.41 and a beta of 0.94.

Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. As a group, sell-side analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 3.44%. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, March 31st. Camden Property Trust’s payout ratio is 280.00%.

Insider Transactions at Camden Property Trust

In related news, CEO Richard J. Campo sold 1,043 shares of the company’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 $114,792.58. Following the transaction, the chief executive officer now directly owns 299,092 shares of the company’s stock, valued at approximately $32,918,065.52. This represents a 0.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alexander J. Jessett sold 1,862 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $204,931.72. Following the sale, the chief financial officer now owns 122,384 shares in the company, valued at approximately $13,469,583.04. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,548 shares of company stock valued at $2,912,212. Insiders own 1.80% of the company’s stock.

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.