Envestnet Portfolio Solutions Inc. Sells 477 Shares of Camden Property Trust (NYSE:CPT)

Envestnet Portfolio Solutions Inc. cut its stake in shares of Camden Property Trust (NYSE:CPT) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,649 shares of the real estate investment trust’s stock after selling 477 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Camden Property Trust were worth $1,120,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPT. Wellington Management Group LLP increased its holdings in Camden Property Trust by 86.9% during the 3rd 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Camden Property Trust by 508.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 946,417 shares of the real estate investment trust’s stock worth $116,911,000 after buying an additional 790,974 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Camden Property Trust by 97.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,279,266 shares of the real estate investment trust’s stock worth $158,028,000 after acquiring an additional 630,768 shares during the last quarter. Heitman Real Estate Securities LLC raised its holdings in shares of Camden Property Trust by 3,155.8% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 449,295 shares of the real estate investment trust’s stock valued at $55,501,000 after acquiring an additional 435,495 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Camden Property Trust by 14.5% during the 3rd quarter. FMR LLC now owns 3,297,370 shares of the real estate investment trust’s stock valued at $407,324,000 after acquiring an additional 416,701 shares during the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Trading Down 0.7 %

Shares of CPT opened at $119.16 on Friday. The stock has a market capitalization of $12.72 billion, a P/E ratio of 79.44, a PEG ratio of 4.41 and a beta of 0.94. Camden Property Trust has a twelve month low of $94.75 and a twelve month high of $127.69. 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 firm has a fifty day simple moving average of $117.61 and a two-hundred day simple moving average of $119.27.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts anticipate that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Monday, March 31st. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. Camden Property Trust’s dividend payout ratio is currently 280.00%.

Insider Buying and Selling

In other news, CFO Alexander J. Jessett sold 13,067 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $1,496,171.50. Following the completion of the sale, the chief financial officer now directly owns 124,246 shares of the company’s stock, valued at approximately $14,226,167. This trade represents a 9.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Heather J. Brunner sold 1,853 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total transaction of $212,168.50. Following the transaction, the director now owns 10,537 shares in the company, valued at $1,206,486.50. This represents a 14.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,548 shares of company stock valued at $2,912,212 over the last quarter. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CPT. Truist Financial raised their target price on shares of Camden Property Trust from $122.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Wells Fargo & Company lowered their price objective on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $129.00 to $128.00 in a research report on Tuesday, December 17th. Scotiabank raised their price target on Camden Property Trust from $130.00 to $135.00 and gave the company a “sector perform” rating in a research report on Friday, February 14th. Finally, Barclays lifted their price target on Camden Property Trust from $126.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $127.19.

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.