Martingale Asset Management L P Acquires New Stake in Camden Property Trust (NYSE:CPT)

Martingale Asset Management L P purchased a new stake in shares of Camden Property Trust (NYSE:CPT) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 14,736 shares of the real estate investment trust’s stock, valued at approximately $1,820,000.

A number of other large investors have also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 worth $116,911,000 after purchasing an additional 790,974 shares during the last quarter. Duquesne Family Office LLC bought a new stake in Camden Property Trust in the 2nd quarter worth approximately $63,056,000. FMR LLC boosted its stake in Camden Property Trust by 14.5% in the third quarter. FMR LLC now owns 3,297,370 shares of the real estate investment trust’s stock worth $407,324,000 after buying an additional 416,701 shares in the last quarter. Jennison Associates LLC purchased a new stake in Camden Property Trust in the third quarter worth approximately $47,140,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Camden Property Trust by 4,254.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 341,810 shares of the real estate investment trust’s stock worth $42,224,000 after buying an additional 333,961 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.

Camden Property Trust Stock Performance

Shares of CPT opened at $125.80 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.15. Camden Property Trust has a one year low of $89.01 and a one year high of $127.69. The company has a 50-day simple moving average of $120.99 and a two-hundred day simple moving average of $116.26. The firm has a market capitalization of $13.42 billion, a PE ratio of 39.81, a price-to-earnings-growth ratio of 4.59 and a beta of 0.91.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Monday, September 30th. Camden Property Trust’s payout ratio is presently 130.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BNP Paribas assumed coverage on shares of Camden Property Trust in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $129.00 price objective for the company. Evercore ISI upped their price target on shares of Camden Property Trust from $116.00 to $118.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada cut their price target on shares of Camden Property Trust from $131.00 to $127.00 and set a “sector perform” rating for the company in a research report on Monday, November 4th. Piper Sandler upped their price target on shares of Camden Property Trust from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Bank of America upgraded Camden Property Trust from an “underperform” rating to a “buy” rating and increased their target price for the company from $111.00 to $147.00 in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Camden Property Trust currently has a consensus rating of “Hold” and an average target price of $122.50.

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.