Ontario Teachers Pension Plan Board Lowers Stock Holdings in Camden Property Trust (NYSE:CPT)

Ontario Teachers Pension Plan Board reduced its position in shares of Camden Property Trust (NYSE:CPT) by 50.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,314 shares of the real estate investment trust’s stock after selling 10,573 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Camden Property Trust were worth $1,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Camden Property Trust by 5.0% during the second quarter. Victory Capital Management Inc. now owns 4,314,030 shares of the real estate investment trust’s stock worth $470,704,000 after buying an additional 206,654 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Camden Property Trust by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,597,441 shares of the real estate investment trust’s stock worth $174,299,000 after buying an additional 54,475 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Camden Property Trust by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,472,881 shares of the real estate investment trust’s stock worth $144,933,000 after buying an additional 7,722 shares during the period. Maverick Capital Ltd. boosted its position in shares of Camden Property Trust by 4.1% during the second quarter. Maverick Capital Ltd. now owns 1,167,785 shares of the real estate investment trust’s stock worth $127,417,000 after buying an additional 46,327 shares during the period. Finally, Eminence Capital LP boosted its position in shares of Camden Property Trust by 7.3% during the second quarter. Eminence Capital LP now owns 986,494 shares of the real estate investment trust’s stock worth $107,636,000 after buying an additional 67,455 shares during the period. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Camden Property Trust Stock Performance

NYSE CPT opened at $120.56 on Thursday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.72. Camden Property Trust has a 52-week low of $87.51 and a 52-week high of $127.69. The business’s 50-day moving average price is $121.00 and its 200 day moving average price is $115.29. The firm has a market cap of $12.86 billion, a P/E ratio of 38.15, a P/E/G ratio of 4.36 and a beta of 0.91.

Camden Property Trust Dividend Announcement

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

Analysts Set New Price Targets

CPT has been the topic of several analyst reports. Wells Fargo & Company upgraded Camden Property Trust from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $104.00 to $127.00 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased their price objective on Camden Property Trust from $90.00 to $115.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Truist Financial increased their price objective on Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Jefferies Financial Group started coverage on Camden Property Trust in a research note on Friday, October 11th. They issued a “hold” rating and a $123.00 price objective on the stock. Finally, Scotiabank cut their price target on Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Camden Property Trust currently has a consensus rating of “Hold” and an average target price of $122.50.

Camden Property Trust 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.