Illinois Municipal Retirement Fund Has $2.68 Million Stake in Camden Property Trust (NYSE:CPT)

Illinois Municipal Retirement Fund lifted its stake in Camden Property Trust (NYSE:CPT) by 22.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,121 shares of the real estate investment trust’s stock after buying an additional 4,290 shares during the period. Illinois Municipal Retirement Fund’s holdings in Camden Property Trust were worth $2,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. SMART Wealth LLC bought a new stake in shares of Camden Property Trust during the 3rd quarter worth approximately $829,000. Nordea Investment Management AB raised its position in Camden Property Trust by 15.0% during the 4th quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock worth $11,339,000 after purchasing an additional 12,805 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Camden Property Trust in the third quarter valued at about $1,660,000. Franklin Resources Inc. increased its position in Camden Property Trust by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock valued at $23,174,000 after purchasing an additional 5,985 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Camden Property Trust by 10.5% during the third quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock worth $66,563,000 after buying an additional 51,097 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Evercore ISI upped their target price on Camden Property Trust from $118.00 to $127.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Scotiabank lifted their target price on Camden Property Trust from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Royal Bank of Canada upped their price target on Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered Camden Property Trust from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $129.00 to $128.00 in a report on Tuesday, December 17th. Finally, Stifel Nicolaus boosted their target price on Camden Property Trust from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $126.53.

Camden Property Trust Price Performance

NYSE:CPT opened at $123.09 on Friday. The business’s 50-day simple moving average is $115.27 and its two-hundred day simple moving average is $119.38. Camden Property Trust has a 52 week low of $92.45 and a 52 week high of $127.69. The stock has a market cap of $13.14 billion, a PE ratio of 82.06, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73.

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

Camden Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a dividend of $1.05 per share. The ex-dividend date is Monday, March 31st. This represents a $4.20 annualized dividend and a dividend yield of 3.41%. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. Camden Property Trust’s dividend payout ratio (DPR) is presently 280.00%.

Insider Transactions at Camden Property Trust

In other Camden Property Trust news, Director Heather J. Brunner sold 1,853 shares of Camden Property Trust stock in a transaction on Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $212,168.50. Following the sale, the director now directly owns 10,537 shares in the company, valued at approximately $1,206,486.50. The trade was a 14.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard J. Campo sold 7,324 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total transaction of $838,598.00. Following the transaction, the chief executive officer now directly owns 300,135 shares of the company’s stock, valued at $34,365,457.50. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,413 shares of company stock valued at $2,895,718. 1.90% of the stock is currently owned by corporate insiders.

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.