Camden Property Trust $CPT Stock: Sumitomo Mitsui Trust Group Inc. Decreases Stake

Sumitomo Mitsui Trust Group Inc. cut its holdings in Camden Property Trust (NYSE:CPT) by 8.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,201 shares of the real estate investment trust’s stock after selling 9,985 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.10% of Camden Property Trust worth $9,983,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Maverick Capital Ltd. raised its holdings in shares of Camden Property Trust by 1.6% in the 1st quarter. Maverick Capital Ltd. now owns 1,867,866 shares of the real estate investment trust’s stock valued at $182,416,000 after purchasing an additional 30,076 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Camden Property Trust by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,598,671 shares of the real estate investment trust’s stock valued at $156,128,000 after purchasing an additional 37,456 shares in the last quarter. Jennison Associates LLC increased its holdings in Camden Property Trust by 100.2% during the first quarter. Jennison Associates LLC now owns 1,206,854 shares of the real estate investment trust’s stock valued at $117,861,000 after buying an additional 603,997 shares during the period. State of Alaska Department of Revenue increased its holdings in Camden Property Trust by 945.3% during the third quarter. State of Alaska Department of Revenue now owns 616,861 shares of the real estate investment trust’s stock valued at $59,669,000 after buying an additional 557,850 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Camden Property Trust by 49.7% in the first quarter. Renaissance Technologies LLC now owns 466,800 shares of the real estate investment trust’s stock worth $45,588,000 after buying an additional 154,900 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors.

Camden Property Trust Stock Down 3.7%

CPT stock traded down $3.88 on Friday, hitting $99.83. 1,702,748 shares of the company’s stock were exchanged, compared to its average volume of 855,251. Camden Property Trust has a 12-month low of $95.30 and a 12-month high of $119.81. The firm has a 50 day moving average price of $100.55 and a two-hundred day moving average price of $105.83. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market cap of $10.04 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 7.56 and a beta of 0.75.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. Camden Property Trust had a return on equity of 7.66% and a net margin of 20.80%. The business had revenue of $381.06 million for the quarter, compared to analyst estimates of $384.88 million. During the same quarter in the previous year, the firm earned $1.70 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were issued a dividend of $1.06 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 4.2%. Camden Property Trust’s payout ratio is 140.40%.

Analyst Ratings Changes

A number of analysts have weighed in on CPT shares. JPMorgan Chase & Co. upped their target price on Camden Property Trust from $113.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Truist Financial cut their price target on Camden Property Trust from $123.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, September 25th. Wall Street Zen raised Camden Property Trust from a “strong sell” rating to a “sell” rating in a research report on Saturday. Evercore set a $110.00 price objective on Camden Property Trust in a research note on Monday, September 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $114.00 price objective on shares of Camden Property Trust in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $111.62.

Key Stories Impacting Camden Property Trust

Here are the key news stories impacting Camden Property Trust this week:

• Positive Sentiment: Q3 funds from operations (FFO) were $1.71 per share, topping the $1.69 consensus and rising from $1.70 a year earlier. The company also cited improving leasing trends and lower property expenses. Camden Property’s Q3 FFO Beats Estimates as Leasing Trends Improve
• Neutral Sentiment: Camden forecast Q4 core FFO of $1.63–$1.67 per share; the available report did not provide a comparable analyst estimate to gauge whether the outlook is above or below expectations. Camden Property Trust Q4 Core FFO Guidance
• Negative Sentiment: Revenue was $381.06 million, below analysts’ $384.88 million estimate and down 3.7% year over year. Reports also flagged weakness in same-property NOI, tempering the FFO beat and raising concerns about operating momentum. Camden Property Q3 FFO Higher, Revenue Lower; Issues Guidance

About Camden Property Trust

Camden Property Trust (NYSE:CPT) is a real estate investment trust that owns, develops, acquires, and manages multifamily apartment communities. The company provides rental housing to individuals and families through a portfolio of communities offering a range of apartment layouts, amenities, and resident services.

Camden focuses primarily on high-growth markets in the Sun Belt, including metropolitan areas in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, and Tennessee. Its communities are generally located in major urban and suburban markets and are managed through the company’s in-house property management platform.

Founded in 1993 and headquartered in Houston, Texas, Camden Property Trust has expanded through apartment development, acquisitions, and ongoing property renovations.