Bank of New York Mellon Corp Sells 24,100 Shares of Camden Property Trust (NYSE:CPT)

Bank of New York Mellon Corp cut its stake in shares of Camden Property Trust (NYSE:CPT - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 834,058 shares of the real estate investment trust's stock after selling 24,100 shares during the period. Bank of New York Mellon Corp owned about 0.78% of Camden Property Trust worth $96,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPT. SMART Wealth LLC purchased a new position in Camden Property Trust during the third quarter valued at approximately $829,000. Nordea Investment Management AB raised its position in shares of Camden Property Trust by 15.0% during the 4th quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust's stock valued at $11,339,000 after purchasing an additional 12,805 shares during the period. QRG Capital Management Inc. purchased a new position in shares of Camden Property Trust during the 3rd quarter valued at $1,660,000. Franklin Resources Inc. boosted its holdings in Camden Property Trust by 3.2% in the 3rd quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust's stock worth $23,174,000 after buying an additional 5,985 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Camden Property Trust by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust's stock worth $66,563,000 after purchasing an additional 51,097 shares during the period. 97.22% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, Director Heather J. Brunner sold 1,853 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction of $212,168.50. Following the transaction, the director now directly owns 10,537 shares of the company's stock, valued at approximately $1,206,486.50. This trade represents a 14.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Alexander J. Jessett sold 13,067 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction 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 $14,226,167. This represents a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,413 shares of company stock worth $2,895,718. 1.80% of the stock is owned by company insiders.

Camden Property Trust Stock Performance

Shares of NYSE CPT traded down $3.08 during trading hours on Thursday, reaching $121.34. 251,929 shares of the stock were exchanged, compared to its average volume of 923,955. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 80.89, a P/E/G ratio of 4.41 and a beta of 0.94. The stock's fifty day simple moving average is $116.16 and its 200 day simple moving average is $119.53. Camden Property Trust has a 52 week low of $94.75 and a 52 week high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 EPS for the quarter, beating 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%. Sell-side analysts predict that Camden Property Trust will post 6.76 EPS 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 issued a dividend of $1.05 per share. This is a positive change from Camden Property Trust's previous quarterly dividend of $1.03. This represents a $4.20 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Monday, March 31st. Camden Property Trust's dividend payout ratio (DPR) is 280.00%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CPT shares. StockNews.com raised Camden Property Trust from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Barclays boosted their price objective on shares of Camden Property Trust from $126.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Mizuho cut their price target on Camden Property Trust from $129.00 to $125.00 and set an "outperform" rating on the stock in a research report on Monday, January 6th. Stifel Nicolaus raised their target price on Camden Property Trust from $121.00 to $122.00 and gave the company a "hold" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company lowered their price target on Camden Property Trust from $127.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $126.53.

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 58,250 apartment homes across the United States.