Franklin Resources Inc. Has $28.92 Million Position in Camden Property Trust (NYSE:CPT)

Franklin Resources Inc. lifted its stake in Camden Property Trust (NYSE:CPT) by 28.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,246 shares of the real estate investment trust’s stock after buying an additional 55,561 shares during the period. Franklin Resources Inc. owned about 0.23% of Camden Property Trust worth $28,923,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Camden Property Trust during the 4th quarter worth approximately $187,606,000. Wellington Management Group LLP boosted its stake in Camden Property Trust by 86.9% during the third quarter. Wellington Management Group LLP now owns 1,974,842 shares of the real estate investment trust’s stock worth $243,952,000 after buying an additional 918,078 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Camden Property Trust by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock valued at $510,674,000 after buying an additional 277,117 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Camden Property Trust in the 4th quarter valued at $17,616,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Camden Property Trust by 66.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 375,753 shares of the real estate investment trust’s stock worth $43,602,000 after acquiring an additional 150,491 shares during the period. 97.22% of the stock is owned by institutional investors and hedge funds.

Camden Property Trust Trading Down 7.1 %

Shares of CPT opened at $110.41 on Friday. The stock’s fifty day simple moving average is $119.35 and its 200-day simple moving average is $119.05. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $12.01 billion, a PE ratio of 73.61, a price-to-earnings-growth ratio of 4.41 and a beta of 0.79. Camden Property Trust has a 12-month low of $94.75 and a 12-month high of $127.69.

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, 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, research analysts predict that Camden Property Trust will post 6.76 earnings per share for the current year.

Camden Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a dividend of $1.05 per share. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, March 31st. This represents a $4.20 annualized dividend and a dividend yield of 3.80%. Camden Property Trust’s payout ratio is presently 280.00%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CPT shares. Truist Financial increased their price target on shares of Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Citigroup raised Camden Property Trust from a “neutral” rating to a “buy” rating and boosted their price target for the company from $125.00 to $138.00 in a research note on Friday, March 28th. Barclays increased their price objective on Camden Property Trust from $126.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Jefferies Financial Group upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and boosted their target price for the company from $117.00 to $139.00 in a research note on Monday, March 10th. Finally, Evercore ISI increased their target price on shares of 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. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $127.76.

Insider Activity

In other Camden Property Trust news, CFO Alexander J. Jessett sold 13,067 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $1,496,171.50. Following the completion of the sale, the chief financial officer now owns 124,246 shares of the company’s stock, valued at approximately $14,226,167. This represents a 9.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Heather J. Brunner sold 264 shares of Camden Property Trust stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total transaction of $29,055.84. Following the transaction, the director now directly owns 10,273 shares in the company, valued at approximately $1,130,646.38. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,548 shares of company stock valued at $2,912,212 in the last 90 days. 1.80% of the stock is owned by company 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.