Daiwa Securities Group Inc. Sells 185,429 Shares of Camden Property Trust (NYSE:CPT)

Daiwa Securities Group Inc. lowered its position in Camden Property Trust (NYSE:CPT) by 30.9% in the 2nd quarter, Holdings Channel reports. The fund owned 414,950 shares of the real estate investment trust’s stock after selling 185,429 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Camden Property Trust were worth $45,275,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Camden Property Trust by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191,374 shares of the real estate investment trust’s stock worth $18,831,000 after purchasing an additional 27,465 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Camden Property Trust by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 160,309 shares of the real estate investment trust’s stock worth $15,781,000 after buying an additional 5,926 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Camden Property Trust by 59.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 18,831 shares of the real estate investment trust’s stock worth $1,853,000 after acquiring an additional 7,018 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in Camden Property Trust during the 4th quarter valued at about $1,374,000. Finally, Eminence Capital LP bought a new stake in Camden Property Trust during the fourth quarter worth about $18,737,000. Institutional investors own 97.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CPT shares. Mizuho decreased their target price on shares of Camden Property Trust from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. The Goldman Sachs Group began coverage on Camden Property Trust in a research report on Wednesday, September 4th. They set a “neutral” rating and a $139.00 price objective for the company. Wells Fargo & Company raised Camden Property Trust from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $104.00 to $127.00 in a report on Monday, August 26th. Evercore ISI raised their price target on Camden Property Trust from $115.00 to $116.00 and gave the company an “in-line” rating in a report on Monday. Finally, UBS Group lifted their price target on Camden Property Trust from $109.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $118.26.

Camden Property Trust Stock Performance

Shares of CPT stock opened at $121.32 on Tuesday. The firm has a market capitalization of $12.94 billion, a PE ratio of 29.74, a P/E/G ratio of 4.59 and a beta of 0.90. The company has a 50 day moving average price of $116.43 and a 200-day moving average price of $106.90. Camden Property Trust has a 52 week low of $82.81 and a 52 week high of $127.23. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.72.

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

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $4.12 annualized dividend and a yield of 3.40%. Camden Property Trust’s payout ratio is 100.98%.

Camden Property Trust 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 58,634 apartment homes across the United States.