Edgestream Partners L.P. Sells 38,718 Shares of Camden Property Trust (NYSE:CPT)

Edgestream Partners L.P. cut its stake in shares of Camden Property Trust (NYSE:CPT) by 51.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,617 shares of the real estate investment trust’s stock after selling 38,718 shares during the quarter. Edgestream Partners L.P.’s holdings in Camden Property Trust were worth $3,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of 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 purchasing an additional 54,475 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Camden Property Trust by 12.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 222,545 shares of the real estate investment trust’s stock worth $24,282,000 after buying an additional 24,591 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Camden Property Trust in the 2nd quarter worth $33,000. American Century Companies Inc. raised its holdings 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 valued at $27,117,000 after acquiring an additional 217,076 shares during the period. Finally, Ground Swell Capital LLC purchased a new position in shares of Camden Property Trust in the second quarter valued at about $305,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Trading Down 0.8 %

Shares of CPT opened at $123.99 on Wednesday. The company’s fifty day simple moving average is $118.03 and its 200-day simple moving average is $107.96. The company has a market cap of $13.21 billion, a P/E ratio of 30.39, a P/E/G ratio of 4.60 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 twelve month low of $82.81 and a twelve month high of $127.23.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The firm 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 last year, the company earned $1.70 earnings per share. As a group, analysts expect that Camden Property Trust will post 6.77 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on CPT shares. Wedbush lifted their target price on Camden Property Trust from $118.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Mizuho lowered their target price on shares of Camden Property Trust from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. The Goldman Sachs Group began coverage on shares of Camden Property Trust in a research report on Wednesday, September 4th. They set a “neutral” rating and a $139.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Camden Property Trust from $112.00 to $129.00 and gave the company a “neutral” rating in a report on Monday. Finally, Bank of America raised shares of Camden Property Trust from an “underperform” rating to a “buy” rating and increased their price objective for the company from $111.00 to $147.00 in a report on Monday, August 12th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Camden Property Trust presently has a consensus rating of “Hold” and an average price target of $121.69.

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 58,250 apartment homes across the United States.