Allianz Asset Management GmbH Increases Stake in Camden Property Trust (NYSE:CPT)

Allianz Asset Management GmbH lifted its stake in Camden Property Trust (NYSE:CPT) by 49.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 366,939 shares of the real estate investment trust’s stock after acquiring an additional 121,532 shares during the period. Allianz Asset Management GmbH’s holdings in Camden Property Trust were worth $42,580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wolverine Asset Management LLC raised its position in shares of Camden Property Trust by 537.1% in the 4th quarter. Wolverine Asset Management LLC now owns 10,601 shares of the real estate investment trust’s stock valued at $1,230,000 after purchasing an additional 8,937 shares during the last quarter. ING Groep NV acquired a new position in Camden Property Trust in the 4th quarter worth approximately $1,581,000. Ieq Capital LLC increased its holdings in Camden Property Trust by 111.8% in the 4th quarter. Ieq Capital LLC now owns 4,421 shares of the real estate investment trust’s stock worth $513,000 after buying an additional 2,334 shares during the period. New York State Common Retirement Fund increased its holdings in Camden Property Trust by 1.3% in the 4th quarter. New York State Common Retirement Fund now owns 46,933 shares of the real estate investment trust’s stock worth $5,446,000 after buying an additional 600 shares during the period. Finally, Davidson Investment Advisors increased its holdings in Camden Property Trust by 1.0% in the 4th quarter. Davidson Investment Advisors now owns 157,111 shares of the real estate investment trust’s stock worth $18,231,000 after buying an additional 1,539 shares during the period. 97.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Camden Property Trust

In other Camden Property Trust news, CEO Richard J. Campo sold 7,324 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $838,598.00. Following the transaction, the chief executive officer now owns 300,135 shares in the company, valued at approximately $34,365,457.50. This trade represents a 2.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Heather J. Brunner sold 264 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $29,055.84. Following the completion of the transaction, the director now owns 10,273 shares in the company, valued at $1,130,646.38. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,413 shares of company stock worth $2,895,718. Corporate insiders own 1.80% of the company’s stock.

Camden Property Trust Price Performance

Camden Property Trust stock opened at $119.93 on Friday. The company’s fifty day moving average price is $115.03 and its 200 day moving average price is $119.32. Camden Property Trust has a 1 year low of $92.26 and a 1 year high of $127.69. The stock has a market capitalization of $12.79 billion, a P/E ratio of 79.95, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. As a group, equities research analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a $1.05 dividend. The ex-dividend date is Monday, March 31st. This represents a $4.20 dividend on an annualized basis and a yield of 3.50%. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. Camden Property Trust’s dividend payout ratio (DPR) is currently 274.67%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CPT. Stifel Nicolaus increased their price target on shares of Camden Property Trust from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Mizuho cut their price target on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada increased their price target on shares of Camden Property Trust from $121.00 to $123.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Barclays increased their price target on shares of Camden Property Trust from $126.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Camden Property Trust has an average rating of “Hold” and a consensus price target of $126.53.

About Camden Property Trust

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.