Allianz Asset Management GmbH Acquires 121,532 Shares of Camden Property Trust (NYSE:CPT)

Allianz Asset Management GmbH boosted its holdings in shares of Camden Property Trust (NYSE:CPT) by 49.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 366,939 shares of the real estate investment trust’s stock after buying an additional 121,532 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.34% of Camden Property Trust worth $42,580,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in 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 purchasing an additional 918,078 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Camden Property Trust by 508.9% during the third 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 valued at $116,911,000 after purchasing an additional 790,974 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Camden Property Trust by 97.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,279,266 shares of the real estate investment trust’s stock valued at $158,028,000 after purchasing an additional 630,768 shares in the last quarter. Heitman Real Estate Securities LLC lifted its holdings in Camden Property Trust by 3,155.8% during the third quarter. Heitman Real Estate Securities LLC now owns 449,295 shares of the real estate investment trust’s stock valued at $55,501,000 after purchasing an additional 435,495 shares in the last quarter. Finally, FMR LLC lifted its holdings in Camden Property Trust by 14.5% during the third quarter. FMR LLC now owns 3,297,370 shares of the real estate investment trust’s stock valued at $407,324,000 after purchasing an additional 416,701 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CPT. Barclays lifted their price target on shares of Camden Property Trust from $126.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore ISI lifted their price target on shares of Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Stifel Nicolaus boosted their target price on shares of Camden Property Trust from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Royal Bank of Canada boosted their target price on shares of Camden Property Trust from $121.00 to $123.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Finally, StockNews.com downgraded shares of Camden Property Trust from a “hold” rating to a “sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $126.53.

Insider Buying and Selling at Camden Property Trust

In other news, CFO Alexander J. Jessett sold 13,067 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $1,496,171.50. Following the transaction, the chief financial officer now directly owns 124,246 shares in the company, valued at approximately $14,226,167. This represents a 9.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Heather J. Brunner sold 264 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total transaction of $29,055.84. Following the completion of the transaction, the director now owns 10,273 shares in the company, valued at approximately $1,130,646.38. The trade was a 2.51 % decrease in their ownership of the stock. 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 quarter. Insiders own 1.80% of the company’s stock.

Camden Property Trust Price Performance

Camden Property Trust stock opened at $119.93 on Friday. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 79.95, a PEG ratio of 4.41 and a beta of 0.94. The firm’s fifty day moving average is $115.03 and its 200 day moving average is $119.32. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. Camden Property Trust has a 52-week low of $92.26 and a 52-week high of $127.69.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. Sell-side analysts forecast that Camden Property Trust will post 6.76 EPS for the current fiscal 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 given a dividend of $1.05 per share. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, March 31st. This represents a $4.20 dividend on an annualized basis and a yield of 3.50%. Camden Property Trust’s payout ratio is 274.67%.

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.