Principal Financial Group Inc. Purchases 59,939 Shares of Camden Property Trust (NYSE:CPT)

Principal Financial Group Inc. increased its stake in Camden Property Trust (NYSE:CPT - Free Report) by 11.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 598,815 shares of the real estate investment trust's stock after acquiring an additional 59,939 shares during the quarter. Principal Financial Group Inc. owned approximately 0.56% of Camden Property Trust worth $69,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. increased its holdings in Camden Property Trust by 12.2% in the fourth quarter. Principal Securities Inc. now owns 4,253 shares of the real estate investment trust's stock worth $494,000 after buying an additional 462 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Camden Property Trust in the fourth quarter worth $821,000. Asset Management One Co. Ltd. boosted its holdings in shares of Camden Property Trust by 0.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 226,526 shares of the real estate investment trust's stock worth $26,103,000 after buying an additional 1,418 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Camden Property Trust by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 16,528 shares of the real estate investment trust's stock valued at $1,895,000 after buying an additional 321 shares during the last quarter. Finally, Quent Capital LLC grew its stake in Camden Property Trust by 87.0% in the 4th quarter. Quent Capital LLC now owns 245 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 114 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Mizuho cut their price objective on Camden Property Trust from $129.00 to $125.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. Evercore ISI increased their price target on shares of Camden Property Trust from $118.00 to $127.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Camden Property Trust from $121.00 to $123.00 and gave the company a "sector perform" rating in a research report on Monday, February 10th. Scotiabank boosted their price target on Camden Property Trust from $130.00 to $135.00 and gave the company a "sector perform" rating in a research note on Friday, February 14th. Finally, Barclays upped their price target on Camden Property Trust from $126.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $126.53.

Camden Property Trust Price Performance

Shares of NYSE CPT traded down $0.92 during mid-day trading on Friday, hitting $119.93. 805,388 shares of the stock were exchanged, compared to its average volume of 877,583. The company has a market cap of $12.79 billion, a P/E ratio of 79.95, a PEG ratio of 4.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. Camden Property Trust has a twelve month low of $92.26 and a twelve month high of $127.69. The stock's fifty day simple moving average is $115.03 and its two-hundred day simple moving average is $119.31.

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

Camden Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.50%. This is a positive change from Camden Property Trust's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, March 31st. Camden Property Trust's dividend payout ratio (DPR) is presently 274.67%.

Insider Activity

In other news, Director Heather J. Brunner sold 1,853 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $212,168.50. Following the transaction, the director now owns 10,537 shares of the company's stock, valued at $1,206,486.50. This represents a 14.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alexander J. Jessett sold 1,862 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total value of $204,931.72. Following the transaction, the chief financial officer now owns 122,384 shares in the company, valued at approximately $13,469,583.04. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,413 shares of company stock valued at $2,895,718. Company insiders own 1.80% of the company's stock.

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.