Jennison Associates LLC Invests $47.14 Million in Camden Property Trust (NYSE:CPT)

Jennison Associates LLC purchased a new position in shares of Camden Property Trust (NYSE:CPT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 381,608 shares of the real estate investment trust’s stock, valued at approximately $47,140,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. boosted its position in 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 purchasing an additional 206,654 shares during the period. Dimensional Fund Advisors LP grew its stake in Camden Property Trust by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,597,441 shares of the real estate investment trust’s stock valued at $174,299,000 after buying an additional 54,475 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Camden Property Trust by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,472,881 shares of the real estate investment trust’s stock valued at $144,933,000 after acquiring an additional 7,722 shares during the period. Maverick Capital Ltd. lifted 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 acquiring an additional 46,327 shares in the last quarter. Finally, Eminence Capital LP boosted its holdings in shares of Camden Property Trust by 7.3% in the second quarter. Eminence Capital LP now owns 986,494 shares of the real estate investment trust’s stock worth $107,636,000 after acquiring an additional 67,455 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Stock Performance

Shares of NYSE CPT opened at $122.01 on Friday. The stock’s 50-day moving average is $121.00 and its 200 day moving average is $115.29. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 38.61, a P/E/G ratio of 4.41 and a beta of 0.91. Camden Property Trust has a 1-year low of $87.61 and a 1-year high of $127.69. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.72.

Camden Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were issued a $1.03 dividend. The ex-dividend date was Monday, September 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.38%. Camden Property Trust’s payout ratio is 130.38%.

Analysts Set New Price Targets

CPT has been the topic of a number of recent research reports. BNP Paribas started coverage on Camden Property Trust in a report on Wednesday, September 11th. They set a “neutral” rating and a $129.00 price objective on the stock. Stifel Nicolaus downgraded shares of Camden Property Trust from a “buy” rating to a “hold” rating and increased their price target for the stock from $120.00 to $121.00 in a report on Wednesday, November 13th. Wells Fargo & Company raised shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $104.00 to $127.00 in a research note on Monday, August 26th. Evercore ISI upped their target price on shares of Camden Property Trust from $116.00 to $118.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Scotiabank cut their price target on shares of Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. One equities research 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’s stock. Based on data from MarketBeat.com, Camden Property Trust presently has an average 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.