Makena Capital Management LLC Acquires New Stake in Camden Property Trust (NYSE:CPT)

Makena Capital Management LLC purchased a new position in Camden Property Trust (NYSE:CPT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 89,494 shares of the real estate investment trust’s stock, valued at approximately $9,765,000. Camden Property Trust comprises about 2.3% of Makena Capital Management LLC’s holdings, making the stock its 22nd largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Centersquare Investment Management LLC boosted its position in shares of Camden Property Trust by 2,517.6% during the fourth quarter. Centersquare Investment Management LLC now owns 1,398,343 shares of the real estate investment trust’s stock valued at $138,841,000 after buying an additional 1,344,923 shares during the period. Duquesne Family Office LLC purchased a new stake in shares of Camden Property Trust during the second quarter worth about $63,056,000. Vanguard Group Inc. grew its holdings in shares of Camden Property Trust by 1.7% during the first quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock worth $1,701,521,000 after buying an additional 289,425 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Camden Property Trust by 23.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,465,159 shares of the real estate investment trust’s stock worth $145,478,000 after acquiring an additional 277,634 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Camden Property Trust by 690.1% during the second quarter. American Century Companies Inc. now owns 248,533 shares of the real estate investment trust’s stock worth $27,117,000 after acquiring an additional 217,076 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

Camden Property Trust Stock Performance

NYSE CPT opened at $124.37 on Friday. Camden Property Trust has a 52-week low of $82.81 and a 52-week high of $127.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.37 and a current ratio of 0.37. The company has a fifty day moving average of $120.50 and a 200-day moving average of $109.36. The company has a market capitalization of $13.25 billion, a P/E ratio of 30.48, a P/E/G ratio of 4.76 and a beta of 0.90.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $1.67 by ($1.27). The company had revenue of $387.15 million during the quarter, compared to analysts’ expectations of $384.76 million. Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. During the same period in the prior year, the business posted $1.70 earnings per share. As a group, equities research analysts predict that Camden Property Trust will post 6.77 EPS for the current fiscal year.

Camden Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.12 annualized dividend and a yield of 3.31%. Camden Property Trust’s dividend payout ratio (DPR) is 100.98%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wedbush lifted their price target on shares of Camden Property Trust from $118.00 to $131.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Royal Bank of Canada downgraded Camden Property Trust from an “outperform” rating to a “sector perform” rating and set a $122.00 price objective for the company. in a research report on Monday, September 9th. Piper Sandler lifted their price target on shares of Camden Property Trust from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Mizuho decreased their price target on shares of Camden Property Trust from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Camden Property Trust from $90.00 to $115.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $121.69.

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.