Principal Financial Group Inc. Buys 51,097 Shares of Camden Property Trust (NYSE:CPT)

Principal Financial Group Inc. grew its stake in Camden Property Trust (NYSE:CPT) by 10.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 538,876 shares of the real estate investment trust’s stock after buying an additional 51,097 shares during the period. Principal Financial Group Inc. owned approximately 0.51% of Camden Property Trust worth $66,563,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of Camden Property Trust by 86.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,842 shares of the real estate investment trust’s stock valued at $243,952,000 after acquiring an additional 918,078 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Camden Property Trust by 508.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 946,417 shares of the real estate investment trust’s stock valued at $116,911,000 after purchasing an additional 790,974 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Camden Property Trust by 97.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,279,266 shares of the real estate investment trust’s stock worth $158,028,000 after buying an additional 630,768 shares during the last quarter. Duquesne Family Office LLC bought a new stake in shares of Camden Property Trust during the 2nd quarter worth $63,056,000. Finally, Heitman Real Estate Securities LLC grew its stake in Camden Property Trust by 3,155.8% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 449,295 shares of the real estate investment trust’s stock valued at $55,501,000 after buying an additional 435,495 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

Camden Property Trust Trading Up 2.1 %

CPT stock opened at $114.91 on Friday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.72. The firm has a market cap of $12.26 billion, a P/E ratio of 36.36, a P/E/G ratio of 4.40 and a beta of 0.92. Camden Property Trust has a 1-year low of $90.50 and a 1-year high of $127.69. The business’s 50 day moving average is $120.24 and its 200-day moving average is $117.84.

Camden Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Wednesday, December 18th will be paid a dividend of $1.03 per share. The ex-dividend date is Wednesday, December 18th. This represents a $4.12 annualized dividend and a yield of 3.59%. Camden Property Trust’s dividend payout ratio is currently 130.38%.

Analyst Upgrades and Downgrades

CPT has been the subject of a number of research analyst reports. Barclays assumed coverage on shares of Camden Property Trust in a research report on Tuesday, December 17th. They set an “overweight” rating and a $138.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Camden Property Trust from $90.00 to $115.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Truist Financial raised their target price on Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 26th. Evercore ISI upped their price target on Camden Property Trust from $116.00 to $118.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. downgraded shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $129.00 to $128.00 in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Camden Property Trust has an average rating of “Hold” and a consensus target price of $125.81.

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.