Ground Swell Capital LLC Buys New Position in Camden Property Trust (NYSE:CPT)

Ground Swell Capital LLC purchased a new position in shares of Camden Property Trust (NYSE:CPT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,797 shares of the real estate investment trust’s stock, valued at approximately $305,000.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Camden Property Trust by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock worth $1,701,521,000 after purchasing an additional 289,425 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Camden Property Trust by 5.0% in the 2nd quarter. Victory Capital Management Inc. now owns 4,314,030 shares of the real estate investment trust’s stock valued at $470,704,000 after acquiring an additional 206,654 shares in the last quarter. Norges Bank acquired a new stake in shares of Camden Property Trust in the fourth quarter valued at about $376,933,000. Centersquare Investment Management LLC raised its holdings in Camden Property Trust by 64.2% during the first quarter. Centersquare Investment Management LLC now owns 2,296,741 shares of the real estate investment trust’s stock worth $228,939,000 after acquiring an additional 898,398 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Camden Property Trust by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,547,287 shares of the real estate investment trust’s stock valued at $153,633,000 after purchasing an additional 16,389 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

Camden Property Trust Price Performance

CPT stock opened at $123.17 on Wednesday. Camden Property Trust has a 1 year low of $82.81 and a 1 year high of $127.23. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 4.59 and a beta of 0.90. 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 company has a 50 day simple moving average of $116.72 and a 200 day simple moving average of $107.10.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($1.27). The business 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 in the prior year, the firm earned $1.70 EPS. Research analysts anticipate that Camden Property Trust will post 6.77 EPS for the current fiscal year.

Camden Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were given a dividend of $1.03 per share. The ex-dividend date was Friday, June 28th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.34%. Camden Property Trust’s dividend payout ratio (DPR) is 100.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPT. UBS Group upped their price objective on Camden Property Trust from $109.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Bank of America upgraded shares of Camden Property Trust from an “underperform” rating to a “buy” rating and increased their price target for the company from $111.00 to $147.00 in a research note on Monday, August 12th. Wedbush boosted their price objective on shares of Camden Property Trust from $118.00 to $131.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company upgraded 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. Finally, JPMorgan Chase & Co. upped their price objective on Camden Property Trust from $104.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Camden Property Trust presently has an average rating of “Hold” and a consensus target price of $119.74.

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.