Geode Capital Management LLC Acquires 76,429 Shares of Camden Property Trust (NYSE:CPT)

Geode Capital Management LLC boosted its position 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 disclosure with the Securities and Exchange Commission. The fund owned 2,816,260 shares of the real estate investment trust's stock after purchasing an additional 76,429 shares during the period. Geode Capital Management LLC owned 2.64% of Camden Property Trust worth $326,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPT. UMB Bank n.a. boosted its stake in shares of Camden Property Trust by 76.6% during the 4th quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 98 shares in the last quarter. National Pension Service bought a new position in Camden Property Trust in the 4th quarter worth $26,000. Quent Capital LLC lifted its position in Camden Property Trust by 87.0% during the 4th quarter. Quent Capital LLC now owns 245 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 114 shares during the last quarter. IAG Wealth Partners LLC acquired a new stake in shares of Camden Property Trust in the fourth quarter worth $29,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Camden Property Trust during the third quarter valued at approximately $38,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Stock Performance

Shares of NYSE CPT traded down $4.79 during midday trading on Thursday, reaching $106.92. The company's stock had a trading volume of 552,168 shares, compared to its average volume of 1,005,462. 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 stock has a market capitalization of $11.63 billion, a P/E ratio of 71.31, a PEG ratio of 4.41 and a beta of 0.79. The firm has a 50 day moving average price of $118.96 and a 200-day moving average price of $118.51. Camden Property Trust has a 12-month low of $94.75 and a 12-month high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a $1.05 dividend. This is a boost from Camden Property Trust's previous quarterly dividend of $1.03. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Monday, March 31st. Camden Property Trust's dividend payout ratio is presently 280.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Scotiabank boosted 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. Mizuho cut their price objective on shares of Camden Property Trust from $129.00 to $125.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Camden Property Trust from a "sell" rating to a "hold" rating in a report on Tuesday, March 18th. Royal Bank of Canada boosted their price objective on shares of Camden Property Trust from $121.00 to $123.00 and gave the stock a "sector perform" rating in a research report on Monday, February 10th. Finally, Truist Financial upped their price objective on Camden Property Trust from $122.00 to $129.00 and gave the company a "buy" rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Camden Property Trust has an average rating of "Hold" and an average price target of $127.76.

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.