Jennison Associates LLC Purchases Shares of 381,608 Camden Property Trust (NYSE:CPT)

Jennison Associates LLC acquired a new stake in Camden Property Trust (NYSE:CPT) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 381,608 shares of the real estate investment trust’s stock, valued at approximately $47,140,000. Jennison Associates LLC owned about 0.36% of Camden Property Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CPT. Kings Path Partners LLC bought a new stake in Camden Property Trust in the 2nd quarter valued at $33,000. Federated Hermes Inc. acquired a new position in shares of Camden Property Trust in the second quarter valued at about $33,000. Family Firm Inc. bought a new position in Camden Property Trust during the second quarter worth about $39,000. Versant Capital Management Inc raised its stake in Camden Property Trust by 2,187.5% in the 2nd quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 350 shares in the last quarter. Finally, American Capital Advisory LLC boosted its holdings in Camden Property Trust by 42.7% in the 3rd quarter. American Capital Advisory LLC now owns 428 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 128 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CPT. Stifel Nicolaus downgraded shares of Camden Property Trust from a “buy” rating to a “hold” rating and lifted their price target for the company from $120.00 to $121.00 in a research report on Wednesday, November 13th. Evercore ISI upped their target price on 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. The Goldman Sachs Group began coverage on Camden Property Trust in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $139.00 price target on the stock. Truist Financial upped their price objective on shares of Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, Wells Fargo & Company raised shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $104.00 to $127.00 in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Camden Property Trust currently has an average rating of “Hold” and a consensus price target of $122.50.

Camden Property Trust Trading Up 1.2 %

CPT opened at $122.01 on Friday. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 38.61, a PEG ratio of 4.41 and a beta of 0.91. The company’s 50 day moving average price is $121.00 and its two-hundred day moving average price is $115.29. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.15. Camden Property Trust has a fifty-two week low of $87.61 and a fifty-two week high of $127.69.

Camden Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were issued a dividend of $1.03 per share. The ex-dividend date was Monday, September 30th. This represents a $4.12 dividend on an annualized basis and a yield of 3.38%. Camden Property Trust’s payout ratio is currently 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.