QRG Capital Management Inc. Invests $1.66 Million in Camden Property Trust (NYSE:CPT)

QRG Capital Management Inc. purchased a new position in Camden Property Trust (NYSE:CPT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,435 shares of the real estate investment trust’s stock, valued at approximately $1,660,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Camden Property Trust by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock valued at $1,701,521,000 after buying an additional 289,425 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Camden Property Trust by 5.0% during the 2nd quarter. Victory Capital Management Inc. now owns 4,314,030 shares of the real estate investment trust’s stock valued at $470,704,000 after purchasing an additional 206,654 shares during the last quarter. Centersquare Investment Management LLC grew its position in Camden Property Trust by 64.2% in the first quarter. Centersquare Investment Management LLC now owns 2,296,741 shares of the real estate investment trust’s stock worth $228,939,000 after acquiring an additional 898,398 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Camden Property Trust by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,597,441 shares of the real estate investment trust’s stock worth $174,299,000 after acquiring an additional 54,475 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Camden Property Trust by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,472,881 shares of the real estate investment trust’s stock worth $144,933,000 after acquiring an additional 7,722 shares in the last quarter. 97.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CPT has been the subject of several recent analyst reports. Royal Bank of Canada dropped their target price on Camden Property Trust from $131.00 to $127.00 and set a “sector perform” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Camden Property Trust from $90.00 to $115.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on shares of Camden Property Trust in a report on Wednesday, September 4th. They set a “neutral” rating and a $139.00 price objective on the stock. Evercore ISI upped their price target on shares of Camden Property Trust from $116.00 to $118.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Wedbush upped their price target on shares of Camden Property Trust from $118.00 to $131.00 and gave the company an “outperform” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $122.03.

Camden Property Trust Price Performance

Shares of CPT stock opened at $118.59 on Friday. The company has a market capitalization of $12.65 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 4.33 and a beta of 0.91. The firm has a fifty day simple moving average of $121.52 and a 200-day simple moving average of $113.85. The company has a current ratio of 0.15, a quick ratio of 0.37 and a debt-to-equity ratio of 0.72. Camden Property Trust has a twelve month low of $85.30 and a twelve month high of $127.69.

Camden Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were issued a $1.03 dividend. The ex-dividend date was Monday, September 30th. This represents a $4.12 annualized dividend and a yield of 3.47%. Camden Property Trust’s dividend payout ratio is presently 130.38%.

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.