Allstate Corp Makes New Investment in Camden Property Trust (NYSE:CPT)

Allstate Corp acquired a new stake in shares of Camden Property Trust (NYSE:CPT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,241 shares of the real estate investment trust's stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPT. Norges Bank acquired a new stake in shares of Camden Property Trust during the fourth quarter valued at about $187,606,000. Wellington Management Group LLP raised its holdings in Camden Property Trust by 86.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,842 shares of the real estate investment trust's stock valued at $243,952,000 after buying an additional 918,078 shares during the last quarter. Victory Capital Management Inc. boosted its position in Camden Property Trust by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust's stock worth $510,674,000 after buying an additional 277,117 shares during the period. Raymond James Financial Inc. bought a new stake in Camden Property Trust during the 4th quarter worth approximately $17,616,000. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in Camden Property Trust by 66.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 375,753 shares of the real estate investment trust's stock worth $43,602,000 after acquiring an additional 150,491 shares during the last quarter. Institutional investors own 97.22% of the company's stock.

Camden Property Trust Stock Down 2.2 %

Shares of CPT stock traded down $2.45 on Monday, reaching $107.98. 1,724,089 shares of the company were exchanged, compared to its average volume of 905,475. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.14 and a quick ratio of 0.15. The company has a 50-day moving average of $119.23 and a 200-day moving average of $118.88. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 71.99, a PEG ratio of 4.41 and a beta of 0.79. Camden Property Trust has a one year low of $94.75 and a one year high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.05. Camden Property Trust had a return on equity of 3.35% and a net margin of 10.58%. Analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a $1.05 dividend. The ex-dividend date is Monday, March 31st. This represents a $4.20 annualized dividend and a yield of 3.89%. This is an increase from Camden Property Trust's previous quarterly dividend of $1.03. Camden Property Trust's dividend payout ratio (DPR) is presently 280.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CPT. Truist Financial lifted their price target on shares of Camden Property Trust from $122.00 to $129.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Scotiabank raised their target price on Camden Property Trust from $130.00 to $135.00 and gave the stock a "sector perform" rating in a research report on Friday, February 14th. Evercore ISI upped their price target on Camden Property Trust from $118.00 to $127.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Mizuho decreased their price target on Camden Property Trust from $129.00 to $125.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. Finally, Stifel Nicolaus lifted their price objective on Camden Property Trust from $121.00 to $122.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $127.76.

Insider Buying and Selling at Camden Property Trust

In other Camden Property Trust news, CFO Alexander J. Jessett sold 1,862 shares of Camden Property Trust stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total transaction of $204,931.72. Following the completion of the transaction, the chief financial officer now owns 122,384 shares in the company, valued at approximately $13,469,583.04. The trade was a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Campo sold 1,043 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total value of $114,792.58. Following the sale, the chief executive officer now directly owns 299,092 shares of the company's stock, valued at $32,918,065.52. This represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,304 shares of company stock worth $365,274. 1.80% of the stock is owned by corporate insiders.

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.