First Mercantile Trust Co. reduced its stake in shares of Camden Property Trust (NYSE:CPT) by 9.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,943 shares of the real estate investment trust’s stock after selling 310 shares during the quarter. First Mercantile Trust Co.’s holdings in Camden Property Trust were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. First Hawaiian Bank boosted its stake in Camden Property Trust by 7.6% in the 4th quarter. First Hawaiian Bank now owns 3,271 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 230 shares in the last quarter. Lavaca Capital LLC bought a new position in Camden Property Trust in the 4th quarter worth about $27,000. First Interstate Bank bought a new position in Camden Property Trust in the 4th quarter worth about $47,000. William Blair Investment Management LLC boosted its stake in Camden Property Trust by 6.8% in the 3rd quarter. William Blair Investment Management LLC now owns 9,370 shares of the real estate investment trust’s stock worth $877,000 after purchasing an additional 594 shares in the last quarter. Finally, We Are One Seven LLC bought a new position in Camden Property Trust in the 4th quarter worth about $62,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of CPT opened at $98.92 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.33 and a debt-to-equity ratio of 0.69. Camden Property Trust has a 1 year low of $78.19 and a 1 year high of $99.84. The company has a market cap of $9.23 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 3.14 and a beta of 0.57.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, January 31st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.81). Camden Property Trust had a net margin of 16.36% and a return on equity of 4.56%. The company had revenue of $244.92 million for the quarter, compared to analysts’ expectations of $243.35 million. Analysts forecast that Camden Property Trust will post 5.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. This is a positive change from Camden Property Trust’s previous quarterly dividend of $0.77. This represents a $3.20 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Thursday, March 28th. Camden Property Trust’s dividend payout ratio (DPR) is 64.57%.

In other Camden Property Trust news, insider Michael P. Gallagher sold 1,841 shares of the stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $94.38, for a total transaction of $173,753.58. Following the completion of the sale, the insider now directly owns 24,783 shares of the company’s stock, valued at approximately $2,339,019.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William F. Paulsen sold 2,890 shares of the stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $97.17, for a total transaction of $280,821.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,549 shares of company stock valued at $10,039,606. Insiders own 3.90% of the company’s stock.

Several research firms recently issued reports on CPT. Barclays reissued a “hold” rating and issued a $87.00 target price on shares of Camden Property Trust in a report on Sunday, October 14th. Citigroup increased their target price on shares of Camden Property Trust from $95.00 to $96.00 and gave the stock a “hold” rating in a report on Tuesday, October 30th. Janney Montgomery Scott raised shares of Camden Property Trust from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a report on Wednesday, December 19th. Wells Fargo & Co set a $99.00 target price on shares of Camden Property Trust and gave the stock a “hold” rating in a report on Tuesday, November 6th. Finally, ValuEngine raised shares of Camden Property Trust from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $98.18.

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About Camden Property Trust

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 159 properties containing 54,480 apartment homes across the United States.

Read More: Cost of Equity For A Business, Investors

Want to see what other hedge funds are holding CPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Camden Property Trust (NYSE:CPT).

Institutional Ownership by Quarter for Camden Property Trust (NYSE:CPT)

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