Wellington Management Group LLP Buys 104,102 Shares of Camden Property Trust (NYSE:CPT)

Wellington Management Group LLP raised its stake in shares of Camden Property Trust (NYSE:CPT) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,078,944 shares of the real estate investment trust’s stock after purchasing an additional 104,102 shares during the period. Wellington Management Group LLP’s holdings in Camden Property Trust were worth $241,241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in Camden Property Trust by 2.5% during the third quarter. The Manufacturers Life Insurance Company now owns 107,361 shares of the real estate investment trust’s stock valued at $13,262,000 after buying an additional 2,590 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of Camden Property Trust during the 3rd quarter worth approximately $294,000. Glenmede Trust Co. NA bought a new position in shares of Camden Property Trust during the 3rd quarter valued at approximately $223,000. CreativeOne Wealth LLC bought a new stake in Camden Property Trust in the third quarter worth $248,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Camden Property Trust during the third quarter valued at $1,265,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Insider Buying and Selling at Camden Property Trust

In related news, CEO Richard J. Campo sold 7,324 shares of the 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 $838,598.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Heather J. Brunner sold 1,853 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction 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. This represents a 14.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,548 shares of company stock worth $2,912,212. 1.80% of the stock is owned by insiders.

Camden Property Trust Price Performance

Shares of CPT stock opened at $121.75 on Wednesday. The company has a market cap of $13.25 billion, a P/E ratio of 81.17, a PEG ratio of 4.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.14 and a quick ratio of 0.15. The stock’s 50-day moving average is $118.94 and its 200 day moving average is $119.16. Camden Property Trust has a 1-year low of $94.75 and a 1-year high of $127.69.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 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%. Research analysts predict that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a dividend of $1.05 per share. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. This represents a $4.20 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Monday, March 31st. Camden Property Trust’s dividend payout ratio is currently 280.00%.

Wall Street Analysts Forecast Growth

CPT has been the topic of several analyst reports. Jefferies Financial Group raised 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 report on Monday, March 10th. Citigroup upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and upped their price target for the company from $125.00 to $138.00 in a report on Friday, March 28th. Evercore ISI raised their price objective on shares of Camden Property Trust from $118.00 to $127.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Scotiabank boosted their target price on Camden Property Trust from $130.00 to $135.00 and gave the company a “sector perform” rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus increased their price target on Camden Property Trust from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Camden Property Trust currently has an average rating of “Hold” and an average price target of $127.76.

Camden Property Trust Company Profile

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.