Herr Investment Group LLC Acquires New Stake in Camden Property Trust (NYSE:CPT)

Herr Investment Group LLC purchased a new stake in shares of Camden Property Trust (NYSE:CPT) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 24,546 shares of the real estate investment trust’s stock, valued at approximately $2,678,000.

Other large investors have also recently modified their holdings of the company. Lindbrook Capital LLC raised its stake in Camden Property Trust by 90.4% in the first quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 132 shares in the last quarter. Kings Path Partners LLC bought a new stake in shares of Camden Property Trust during the 2nd quarter worth $33,000. Federated Hermes Inc. bought a new stake in shares of Camden Property Trust during the 2nd quarter worth $33,000. Family Firm Inc. purchased a new position in Camden Property Trust in the second quarter worth $39,000. Finally, Versant Capital Management Inc raised its position in Camden Property Trust by 2,187.5% during the second quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.

Camden Property Trust Trading Up 1.1 %

Shares of Camden Property Trust stock opened at $126.67 on Friday. The business has a 50-day moving average price of $119.02 and a 200-day moving average price of $108.41. Camden Property Trust has a twelve month low of $82.81 and a twelve month high of $127.38. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.72. The firm has a market cap of $13.49 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 4.60 and a beta of 0.90.

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

Camden Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.25%. Camden Property Trust’s dividend payout ratio is presently 100.98%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Mizuho reduced their price objective on Camden Property Trust from $111.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Evercore ISI boosted their price objective on shares of Camden Property Trust from $116.00 to $118.00 and gave the stock an “in-line” rating in a report on Monday. Scotiabank lifted their target price on shares of Camden Property Trust from $125.00 to $132.00 and gave the stock a “sector perform” rating in a research report on Monday. Wells Fargo & Company upgraded shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $104.00 to $127.00 in a research report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Camden Property Trust from $90.00 to $115.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Camden Property Trust currently has an average rating of “Hold” and a consensus price target 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.