Federated Hermes Inc. Makes New Investment in Camden Property Trust (NYSE:CPT)

Federated Hermes Inc. acquired a new position in Camden Property Trust (NYSE:CPT) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 305 shares of the real estate investment trust’s stock, valued at approximately $33,000.

A number of other institutional investors also recently made changes to their positions in CPT. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Camden Property Trust by 16.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191,374 shares of the real estate investment trust’s stock worth $18,831,000 after buying an additional 27,465 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Camden Property Trust by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 160,309 shares of the real estate investment trust’s stock worth $15,781,000 after purchasing an additional 5,926 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Camden Property Trust by 59.4% during the first quarter. Illinois Municipal Retirement Fund now owns 18,831 shares of the real estate investment trust’s stock valued at $1,853,000 after purchasing an additional 7,018 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in Camden Property Trust during the fourth quarter worth approximately $1,374,000. Finally, Eminence Capital LP acquired a new position in Camden Property Trust in the fourth quarter worth approximately $18,737,000. 97.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CPT shares. Wedbush increased their price target 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. Wells Fargo & Company raised shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $104.00 to $127.00 in a research report on Monday, August 26th. Piper Sandler upped their target price on Camden Property Trust from $110.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Evercore ISI raised their price objective on shares of Camden Property Trust from $116.00 to $118.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada downgraded shares of Camden Property Trust from an “outperform” rating to a “sector perform” rating and set a $122.00 price target on the stock. in a report on Monday, September 9th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $121.69.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $126.16 on Thursday. The firm has a market capitalization of $13.44 billion, a PE ratio of 30.92, a PEG ratio of 4.76 and a beta of 0.90. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.72. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $127.69. The business’s 50 day moving average is $120.27 and its 200-day moving average is $109.26.

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 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 company had revenue of $387.15 million during the quarter, compared to the consensus estimate of $384.76 million. During the same quarter in the prior year, the company posted $1.70 earnings per share. Sell-side analysts predict that Camden Property Trust will post 6.77 earnings per share for the current year.

Camden Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Monday, September 30th. Camden Property Trust’s payout ratio is 100.98%.

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.