Rockefeller Capital Management L.P. Grows Stake in Camden Property Trust (NYSE:CPT)

Rockefeller Capital Management L.P. grew its stake in shares of Camden Property Trust (NYSE:CPT) by 16.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 344,965 shares of the real estate investment trust’s stock after acquiring an additional 48,552 shares during the period. Rockefeller Capital Management L.P. owned about 0.32% of Camden Property Trust worth $40,030,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Camden Property Trust during the fourth quarter valued at $187,606,000. Invesco Ltd. raised its stake in Camden Property Trust by 17.3% in the 4th quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust’s stock valued at $344,432,000 after acquiring an additional 438,685 shares during the period. Centersquare Investment Management LLC lifted its holdings in Camden Property Trust by 15.9% during the fourth quarter. Centersquare Investment Management LLC now owns 2,522,398 shares of the real estate investment trust’s stock valued at $292,699,000 after purchasing an additional 345,331 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Camden Property Trust by 6.7% during the fourth 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 purchasing an additional 277,117 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Camden Property Trust in the fourth quarter worth about $17,616,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Price Performance

Shares of Camden Property Trust stock opened at $107.85 on Friday. The firm has a market capitalization of $11.73 billion, a PE ratio of 71.90, a price-to-earnings-growth ratio of 4.41 and a beta of 0.79. The company has a current ratio of 0.14, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. Camden Property Trust has a 12 month low of $94.75 and a 12 month high of $127.69. The business’s 50-day moving average price is $118.72 and its 200-day moving average price is $118.25.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 EPS for the quarter, topping 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%. Sell-side analysts forecast that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a $1.05 dividend. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, March 31st. This represents a $4.20 annualized dividend and a dividend yield of 3.89%. Camden Property Trust’s dividend payout ratio (DPR) is currently 280.00%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CPT shares. Citigroup raised shares of Camden Property Trust from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $125.00 to $138.00 in a report on Friday, March 28th. Barclays cut their price target on Camden Property Trust from $130.00 to $127.00 and set an “overweight” rating for the company in a report on Friday. Evercore ISI lifted their price target on Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. StockNews.com raised Camden Property Trust from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th. Finally, Truist Financial lifted their target price on Camden Property Trust from $122.00 to $129.00 and gave the company a “buy” rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $127.61.

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.