Allspring Global Investments Holdings LLC Acquires 1,247 Shares of Camden Property Trust (NYSE:CPT)

Allspring Global Investments Holdings LLC grew its holdings in shares of Camden Property Trust (NYSE:CPT) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,138 shares of the real estate investment trust’s stock after buying an additional 1,247 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Camden Property Trust were worth $1,870,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Michigan Retirement System raised its position in Camden Property Trust by 7.8% during the second quarter. State of Michigan Retirement System now owns 31,600 shares of the real estate investment trust’s stock valued at $3,448,000 after purchasing an additional 2,300 shares during the period. Bank of New York Mellon Corp raised its holdings in Camden Property Trust by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 911,183 shares of the real estate investment trust’s stock valued at $99,419,000 after buying an additional 10,867 shares during the period. Raymond James Trust N.A. lifted its position in Camden Property Trust by 6.1% in the second quarter. Raymond James Trust N.A. now owns 2,516 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 144 shares during the last quarter. Family Firm Inc. bought a new stake in Camden Property Trust in the second quarter worth $39,000. Finally, Traynor Capital Management Inc. purchased a new position in Camden Property Trust during the second quarter worth $218,000. Institutional investors own 97.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CPT. Scotiabank raised their target price on shares of Camden Property Trust from $116.00 to $125.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Truist Financial raised their price objective on shares of Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Morgan Stanley upped their target price on Camden Property Trust from $98.00 to $105.50 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Wells Fargo & Company raised Camden Property Trust from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $104.00 to $127.00 in a research note on Monday, August 26th. Finally, Wedbush upped their price objective on Camden Property Trust from $118.00 to $131.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Camden Property Trust presently has an average rating of “Hold” and a consensus price target of $116.62.

Camden Property Trust Stock Up 1.1 %

Shares of Camden Property Trust stock opened at $126.60 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 4.71 and a beta of 0.88. The firm’s 50-day moving average is $115.31 and its two-hundred day moving average is $106.11. Camden Property Trust has a 1 year low of $82.81 and a 1 year high of $127.23.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The business had revenue of $387.15 million for the quarter, compared to the consensus estimate of $384.76 million. Camden Property Trust had a net margin of 25.64% and a return on equity of 7.98%. During the same quarter in the prior year, the business posted $1.70 earnings per share. As a group, research analysts expect that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Friday, June 28th. Camden Property Trust’s payout ratio is 100.98%.

Camden Property Trust Company 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 58,634 apartment homes across the United States.