Ontario Teachers Pension Plan Board Buys 9,948 Shares of Camden Property Trust (NYSE:CPT)

Ontario Teachers Pension Plan Board increased its stake in Camden Property Trust (NYSE:CPT) by 96.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 20,262 shares of the real estate investment trust’s stock after acquiring an additional 9,948 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Camden Property Trust were worth $2,351,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Camden Property Trust in the fourth quarter worth about $187,606,000. Invesco Ltd. lifted its position in shares of Camden Property Trust by 17.3% during the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust’s stock worth $344,432,000 after purchasing an additional 438,685 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in shares of Camden Property Trust by 15.9% during the fourth quarter. Centersquare Investment Management LLC now owns 2,522,398 shares of the real estate investment trust’s stock valued at $292,699,000 after purchasing an additional 345,331 shares during the period. Victory Capital Management Inc. grew its holdings in shares of 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 worth $510,674,000 after purchasing an additional 277,117 shares during the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Camden Property Trust in the 4th quarter worth about $23,972,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Truist Financial boosted their price target on Camden Property Trust from $122.00 to $129.00 and gave the company a “buy” rating in a report on Monday, March 10th. Barclays lowered their target price on Camden Property Trust from $130.00 to $127.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Scotiabank lifted their price objective on Camden Property Trust from $130.00 to $135.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. cut shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $129.00 to $128.00 in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Camden Property Trust presently has an average rating of “Hold” and a consensus price target of $127.61.

Camden Property Trust Price Performance

Shares of CPT opened at $111.18 on Tuesday. The business’s 50-day moving average is $118.62 and its two-hundred day moving average is $118.12. The company has a market capitalization of $12.10 billion, a P/E ratio of 74.12, a P/E/G 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. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14.

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

Camden Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. Camden Property Trust’s payout ratio is currently 280.00%.

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.