Franklin Resources Inc. Has $28.92 Million Stock Position in Camden Property Trust (NYSE:CPT)

Franklin Resources Inc. grew its stake in Camden Property Trust (NYSE:CPT) by 28.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,246 shares of the real estate investment trust’s stock after buying an additional 55,561 shares during the quarter. Franklin Resources Inc.’s holdings in Camden Property Trust were worth $28,923,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CPT. Townsquare Capital LLC bought a new position in Camden Property Trust during the 3rd quarter worth about $294,000. HighTower Advisors LLC grew its holdings in shares of Camden Property Trust by 5.6% during the third quarter. HighTower Advisors LLC now owns 57,856 shares of the real estate investment trust’s stock worth $7,138,000 after buying an additional 3,083 shares in the last quarter. Investment Management Corp of Ontario raised its position in Camden Property Trust by 50.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 3,560 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 1,200 shares during the last quarter. Quarry LP bought a new stake in Camden Property Trust in the 3rd quarter valued at approximately $103,000. Finally, Quantinno Capital Management LP boosted its position in Camden Property Trust by 35.6% during the 3rd quarter. Quantinno Capital Management LP now owns 38,801 shares of the real estate investment trust’s stock worth $4,793,000 after acquiring an additional 10,191 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

CPT has been the topic of a number of recent research reports. Jefferies Financial Group upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and lifted their price objective for the company from $117.00 to $139.00 in a report on Monday, March 10th. Truist Financial lifted their price target on shares of Camden Property Trust from $122.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Wells Fargo & Company reduced their price objective on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Scotiabank lifted their target price on Camden Property Trust from $130.00 to $135.00 and gave the company a “sector perform” rating in a research report on Friday, February 14th. Finally, Mizuho reduced their price target on Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $127.76.

Insiders Place Their Bets

In other Camden Property Trust news, CEO Richard J. Campo sold 1,043 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $114,792.58. Following the completion of the sale, the chief executive officer now owns 299,092 shares of the company’s stock, valued at $32,918,065.52. The trade was a 0.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Heather J. Brunner sold 264 shares of the firm’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 transaction of $29,055.84. Following the transaction, the director now directly owns 10,273 shares in the company, valued at $1,130,646.38. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,548 shares of company stock worth $2,912,212 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Camden Property Trust Price Performance

Shares of CPT opened at $110.41 on Friday. The company’s 50-day moving average is $119.35 and its 200-day moving average is $119.05. 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 market capitalization of $12.01 billion, a PE ratio of 73.61, a PEG ratio of 4.41 and a beta of 0.79. Camden Property Trust has a fifty-two week low of $94.75 and a fifty-two week high of $127.69.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share 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%. Equities analysts forecast that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.80%. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, March 31st. Camden Property Trust’s dividend payout ratio is currently 280.00%.

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.