Summit Investment Advisors Inc. Trims Holdings in Camden Property Trust (NYSE:CPT)

Summit Investment Advisors Inc. lessened its stake in shares of Camden Property Trust (NYSE:CPT) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,939 shares of the real estate investment trust’s stock after selling 116 shares during the period. Summit Investment Advisors Inc.’s holdings in Camden Property Trust were worth $921,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. National Pension Service purchased a new position in shares of Camden Property Trust during the fourth quarter valued at approximately $26,000. UMB Bank n.a. raised its stake in shares of Camden Property Trust by 76.6% in the fourth quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 98 shares during the period. Quent Capital LLC raised its stake in Camden Property Trust by 87.0% during the 4th quarter. Quent Capital LLC now owns 245 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 114 shares during the period. IAG Wealth Partners LLC bought a new stake in shares of Camden Property Trust during the 4th quarter valued at $29,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Camden Property Trust by 117.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 382 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 206 shares during the period. Institutional investors own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

CPT has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Barclays lowered their target price on shares of Camden Property Trust from $130.00 to $127.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Citigroup upgraded Camden Property Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $125.00 to $138.00 in a report on Friday, March 28th. StockNews.com upgraded shares of Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Mizuho cut their price target on Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $127.61.

Camden Property Trust Price Performance

Shares of CPT opened at $112.16 on Friday. The firm has a 50-day simple moving average of $118.31 and a 200-day simple moving average of $118.02. Camden Property Trust has a fifty-two week low of $94.88 and a fifty-two week high of $127.69. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 74.77, a price-to-earnings-growth ratio of 4.41 and a beta of 0.79. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a return on equity of 3.35% and a net margin of 10.58%. On average, equities research analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were paid a $1.05 dividend. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, March 31st. This represents a $4.20 annualized dividend and a yield of 3.74%. Camden Property Trust’s payout ratio is presently 280.00%.

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.