Makena Capital Management LLC Sells 2,116 Shares of Camden Property Trust (NYSE:CPT)

Makena Capital Management LLC lessened its stake in shares of Camden Property Trust (NYSE:CPT) by 2.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 87,378 shares of the real estate investment trust’s stock after selling 2,116 shares during the period. Camden Property Trust makes up approximately 2.6% of Makena Capital Management LLC’s portfolio, making the stock its 15th biggest position. Makena Capital Management LLC’s holdings in Camden Property Trust were worth $10,794,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Duquesne Family Office LLC acquired a new position in shares of Camden Property Trust in the second quarter valued at approximately $63,056,000. Jennison Associates LLC acquired a new position in Camden Property Trust in the 3rd quarter valued at approximately $47,140,000. Robeco Institutional Asset Management B.V. increased its position in Camden Property Trust by 4,254.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 341,810 shares of the real estate investment trust’s stock valued at $42,224,000 after acquiring an additional 333,961 shares during the period. American Century Companies Inc. raised its stake in shares of Camden Property Trust by 690.1% during the second quarter. American Century Companies Inc. now owns 248,533 shares of the real estate investment trust’s stock valued at $27,117,000 after acquiring an additional 217,076 shares during the last quarter. Finally, Empyrean Capital Partners LP acquired a new position in shares of Camden Property Trust during the second quarter worth $22,913,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CPT shares. Jefferies Financial Group assumed coverage on Camden Property Trust in a report on Friday, October 11th. They issued a “hold” rating and a $123.00 price objective for the company. Royal Bank of Canada decreased their price target on Camden Property Trust from $131.00 to $127.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. BNP Paribas began coverage on Camden Property Trust in a research report on Wednesday, September 11th. They set a “neutral” rating and a $129.00 price objective for the company. StockNews.com cut Camden Property Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group began coverage on shares of Camden Property Trust in a report on Wednesday, September 4th. They set a “neutral” rating and a $139.00 price target for the company. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $122.50.

Camden Property Trust Trading Down 0.6 %

CPT opened at $120.56 on Thursday. The company has a fifty day moving average price of $121.00 and a two-hundred day moving average price of $115.29. Camden Property Trust has a 1-year low of $87.51 and a 1-year high of $127.69. The company has a market cap of $12.86 billion, a P/E ratio of 38.15, a price-to-earnings-growth ratio of 4.41 and a beta of 0.91. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.72.

Camden Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Monday, September 30th. Camden Property Trust’s payout ratio is 130.38%.

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.