SMART Wealth LLC Takes Position in Camden Property Trust (NYSE:CPT)

SMART Wealth LLC purchased a new position in Camden Property Trust (NYSE:CPT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,707 shares of the real estate investment trust’s stock, valued at approximately $829,000.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. raised its position in Camden Property Trust by 3.2% during the third quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock valued at $23,174,000 after purchasing an additional 5,985 shares during the period. Tidal Investments LLC increased its position in shares of Camden Property Trust by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 70,285 shares of the real estate investment trust’s stock valued at $8,682,000 after purchasing an additional 12,774 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Camden Property Trust during the 3rd quarter valued at approximately $180,000. Sanctuary Advisors LLC raised its holdings in Camden Property Trust by 43.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,101 shares of the real estate investment trust’s stock valued at $2,225,000 after buying an additional 5,485 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in Camden Property Trust by 316.0% in the third quarter. Sunbelt Securities Inc. now owns 832 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Stock Down 0.6 %

Shares of Camden Property Trust stock opened at $120.17 on Monday. Camden Property Trust has a 1 year low of $90.50 and a 1 year high of $127.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.15. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 4.40 and a beta of 0.92. The firm’s 50-day moving average is $120.61 and its two-hundred day moving average is $117.50.

Camden Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Wednesday, December 18th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.43%. The ex-dividend date is Wednesday, December 18th. Camden Property Trust’s payout ratio is 130.38%.

Analyst Ratings Changes

CPT has been the topic of a number of analyst reports. StockNews.com cut shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Stifel Nicolaus downgraded shares of Camden Property Trust from a “buy” rating to a “hold” rating and upped their price target for the company from $120.00 to $121.00 in a report on Wednesday, November 13th. Wells Fargo & Company raised shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $104.00 to $127.00 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their target price on Camden Property Trust from $90.00 to $115.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Piper Sandler increased their price target on Camden Property Trust from $110.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $123.75.

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.