Spirit of America Management Corp NY Increases Stock Position in Camden Property Trust (NYSE:CPT)

Spirit of America Management Corp NY boosted its holdings in shares of Camden Property Trust (NYSE:CPT) by 2.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,600 shares of the real estate investment trust’s stock after purchasing an additional 200 shares during the period. Spirit of America Management Corp NY’s holdings in Camden Property Trust were worth $1,186,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in Camden Property Trust in the 3rd quarter valued at about $41,210,000. U.S. Capital Wealth Advisors LLC raised its stake in shares of Camden Property Trust by 4.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 46,652 shares of the real estate investment trust’s stock worth $5,763,000 after purchasing an additional 2,006 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Camden Property Trust during the third quarter worth $205,000. Private Advisor Group LLC purchased a new position in Camden Property Trust in the 3rd quarter valued at $210,000. Finally, Raymond James & Associates lifted its stake in shares of Camden Property Trust by 12.5% in the 3rd quarter. Raymond James & Associates now owns 112,548 shares of the real estate investment trust’s stock worth $13,903,000 after acquiring an additional 12,493 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CPT shares. Truist Financial upped their price objective on Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Jefferies Financial Group assumed coverage on Camden Property Trust in a research note on Friday, October 11th. They set a “hold” rating and a $123.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Camden Property Trust from $90.00 to $115.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Wedbush upped their target price on Camden Property Trust from $118.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Piper Sandler raised their target price on shares of Camden Property Trust from $110.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Fifteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $121.76.

Camden Property Trust Stock Performance

Camden Property Trust stock opened at $120.35 on Friday. Camden Property Trust has a 12-month low of $82.81 and a 12-month high of $127.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 4.51 and a beta of 0.90. The firm’s fifty day moving average price is $122.46 and its 200 day moving average price is $112.54.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). Camden Property Trust had a net margin of 25.64% and a return on equity of 7.98%. The business had revenue of $387.15 million during the quarter, compared to analysts’ expectations of $384.76 million. During the same period in the prior year, the company posted $1.70 EPS. On average, research analysts forecast that Camden Property Trust will post 6.77 EPS for the current fiscal year.

Camden Property Trust Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.42%. Camden Property Trust’s dividend payout ratio (DPR) is presently 100.98%.

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.