Allstate Corp Takes $376,000 Position in Camden Property Trust (NYSE:CPT)

Allstate Corp bought a new position in shares of Camden Property Trust (NYSE:CPT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,241 shares of the real estate investment trust’s stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPT. Vanguard Group Inc. grew its position in shares of Camden Property Trust by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 17,250,406 shares of the real estate investment trust’s stock valued at $2,001,737,000 after purchasing an additional 125,287 shares during the period. State Street Corp grew its holdings in Camden Property Trust by 0.5% in the 3rd quarter. State Street Corp now owns 7,118,930 shares of the real estate investment trust’s stock valued at $886,693,000 after buying an additional 36,528 shares during the period. Victory Capital Management Inc. increased its stake in shares of Camden Property Trust by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock valued at $510,674,000 after acquiring an additional 277,117 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Camden Property Trust by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,739,831 shares of the real estate investment trust’s stock worth $337,394,000 after acquiring an additional 20,097 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Camden Property Trust by 86.9% in the third quarter. Wellington Management Group LLP now owns 1,974,842 shares of the real estate investment trust’s stock worth $243,952,000 after acquiring an additional 918,078 shares during the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Camden Property Trust news, Director Heather J. Brunner sold 264 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total transaction of $29,055.84. Following the transaction, the director now owns 10,273 shares of the company’s stock, valued at $1,130,646.38. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard J. Campo sold 7,324 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $838,598.00. Following the sale, the chief executive officer now directly owns 300,135 shares in the company, valued at approximately $34,365,457.50. This represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,548 shares of company stock worth $2,912,212. Corporate insiders own 1.80% of the company’s stock.

Camden Property Trust Price Performance

CPT stock opened at $122.93 on Thursday. The company has a market capitalization of $13.37 billion, a PE ratio of 81.95, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. The stock’s 50 day moving average is $119.18 and its two-hundred day moving average is $119.19. Camden Property Trust has a 52-week low of $94.75 and a 52-week high of $127.69.

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

Camden Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a dividend of $1.05 per share. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, March 31st. This represents a $4.20 annualized dividend and a dividend yield of 3.42%. Camden Property Trust’s dividend payout ratio (DPR) is presently 280.00%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CPT. Royal Bank of Canada upped their price target on shares of Camden Property Trust from $121.00 to $123.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. StockNews.com upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th. Truist Financial upped their price target on Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Scotiabank lifted their price objective on Camden Property Trust from $130.00 to $135.00 and gave the company a “sector perform” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company dropped their target price on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Camden Property Trust has a consensus rating of “Hold” and an average target price of $127.76.

About Camden Property Trust

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.