Grassi Investment Management Sells 500 Shares of Camden Property Trust (NYSE:CPT)

Grassi Investment Management cut its holdings in shares of Camden Property Trust (NYSE:CPT) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,409 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Grassi Investment Management’s holdings in Camden Property Trust were worth $744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. SMART Wealth LLC bought a new stake in Camden Property Trust during the third quarter valued at about $829,000. Nordea Investment Management AB raised its holdings in Camden Property Trust by 15.0% during the fourth quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock valued at $11,339,000 after acquiring an additional 12,805 shares during the period. QRG Capital Management Inc. bought a new stake in Camden Property Trust during the third quarter valued at about $1,660,000. Franklin Resources Inc. raised its holdings in Camden Property Trust by 3.2% during the third quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock valued at $23,174,000 after acquiring an additional 5,985 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Camden Property Trust by 10.5% in the third quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock worth $66,563,000 after purchasing an additional 51,097 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CPT. StockNews.com cut Camden Property Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Barclays initiated coverage on Camden Property Trust in a research report on Tuesday, December 17th. They set an “overweight” rating and a $138.00 target price for the company. Stifel Nicolaus cut Camden Property Trust from a “buy” rating to a “hold” rating and increased their price objective for the stock from $120.00 to $121.00 in a research note on Wednesday, November 13th. Mizuho lowered their target price on Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Finally, Evercore ISI upped their target price on Camden Property Trust from $116.00 to $118.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $126.75.

Camden Property Trust Stock Performance

Shares of NYSE CPT traded up $2.56 during mid-day trading on Monday, hitting $111.72. The stock had a trading volume of 249,212 shares, compared to its average volume of 827,141. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.15 and a current ratio of 0.15. The company has a 50 day moving average of $118.92 and a two-hundred day moving average of $118.53. Camden Property Trust has a twelve month low of $90.50 and a twelve month high of $127.69. The firm has a market cap of $11.92 billion, a PE ratio of 35.35, a PEG ratio of 4.40 and a beta of 0.94.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Wednesday, December 18th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Wednesday, December 18th. Camden Property Trust’s payout ratio is 130.38%.

Insider Activity at Camden Property Trust

In other Camden Property Trust news, CFO Alexander J. Jessett sold 13,067 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction of $1,496,171.50. Following the sale, the chief financial officer now directly owns 124,246 shares of the company’s stock, valued at approximately $14,226,167. This trade represents a 9.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Heather J. Brunner sold 1,853 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $212,168.50. Following the sale, the director now directly owns 10,537 shares in the company, valued at $1,206,486.50. This represents a 14.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,413 shares of company stock valued at $2,895,718 in the last ninety days. Company insiders own 1.80% of the company’s stock.

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.