AQR Capital Management LLC Sells 65,838 Shares of Camden Property Trust (NYSE:CPT)

AQR Capital Management LLC lowered its stake in Camden Property Trust (NYSE:CPT) by 47.6% in the second quarter, HoldingsChannel.com reports. The firm owned 72,376 shares of the real estate investment trust’s stock after selling 65,838 shares during the quarter. AQR Capital Management LLC’s holdings in Camden Property Trust were worth $7,884,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Kings Path Partners LLC acquired a new stake in shares of Camden Property Trust in the 2nd quarter valued at $33,000. Federated Hermes Inc. acquired a new position in shares of Camden Property Trust during the second quarter valued at $33,000. Family Firm Inc. bought a new position in Camden Property Trust in the second quarter valued at about $39,000. Versant Capital Management Inc increased its position in Camden Property Trust by 2,187.5% in the second quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 350 shares during the period. Finally, Quarry LP raised its holdings in Camden Property Trust by 1,081.5% during the 4th quarter. Quarry LP now owns 638 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 584 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock opened at $120.78 on Friday. 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 firm has a market cap of $12.87 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 4.76 and a beta of 0.90. Camden Property Trust has a one year low of $82.81 and a one year high of $127.69. The stock’s 50-day moving average is $121.30 and its 200-day moving average is $110.11.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. The firm had revenue of $387.15 million for the quarter, compared to analyst estimates of $384.76 million. During the same period last year, the company earned $1.70 EPS. Equities analysts predict that Camden Property Trust will post 6.77 earnings per share for the current fiscal year.

Camden Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be given a dividend of $1.03 per share. The ex-dividend date is Monday, September 30th. This represents a $4.12 annualized dividend and a yield of 3.41%. Camden Property Trust’s dividend payout ratio (DPR) is presently 100.98%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $104.00 to $127.00 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised 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. Truist Financial upped their target price on shares of Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, August 26th. BNP Paribas initiated coverage on Camden Property Trust in a research note on Wednesday, September 11th. They set a “neutral” rating and a $129.00 price objective for the company. Finally, Scotiabank increased their target price on Camden Property Trust from $125.00 to $132.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $121.69.

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.