Principal Financial Group Inc. Boosts Position in Camden Property Trust (NYSE:CPT)

Principal Financial Group Inc. grew its holdings in Camden Property Trust (NYSE:CPT - Free Report) by 10.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 538,876 shares of the real estate investment trust's stock after buying an additional 51,097 shares during the quarter. Principal Financial Group Inc. owned approximately 0.51% of Camden Property Trust worth $66,563,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Kings Path Partners LLC purchased a new stake in shares of Camden Property Trust in the 2nd quarter worth about $33,000. Federated Hermes Inc. purchased a new stake in Camden Property Trust in the second quarter worth about $33,000. Neo Ivy Capital Management purchased a new position in shares of Camden Property Trust during the 3rd quarter worth approximately $38,000. Family Firm Inc. purchased a new position in shares of Camden Property Trust in the 2nd quarter valued at approximately $39,000. Finally, American Capital Advisory LLC lifted its stake in shares of Camden Property Trust by 42.7% in the 3rd quarter. American Capital Advisory LLC now owns 428 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 128 shares during the period. 97.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CPT. Truist Financial boosted their target price on shares of Camden Property Trust from $122.00 to $133.00 and gave the company a "buy" rating in a report on Monday, August 26th. Royal Bank of Canada cut their price target on Camden Property Trust from $131.00 to $127.00 and set a "sector perform" rating on the stock in a research note on Monday, November 4th. Barclays assumed coverage on Camden Property Trust in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $138.00 target price on the stock. StockNews.com cut shares of Camden Property Trust from a "hold" rating to a "sell" rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus downgraded shares of Camden Property Trust from a "buy" rating to a "hold" rating and upped their target price for the stock from $120.00 to $121.00 in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Camden Property Trust has a consensus rating of "Hold" and a consensus target price of $125.81.

Camden Property Trust Price Performance

CPT traded up $2.39 during trading hours on Friday, hitting $114.91. The company's stock had a trading volume of 1,756,632 shares, compared to its average volume of 962,438. Camden Property Trust has a 12 month low of $90.50 and a 12 month high of $127.69. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.72. The business's 50-day moving average price is $120.24 and its 200-day moving average price is $117.92. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 36.36, a P/E/G ratio of 4.40 and a beta of 0.92.

Camden Property Trust Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $4.12 annualized dividend and a yield of 3.59%. Camden Property Trust's payout ratio is presently 130.38%.

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.