AlphaCrest Capital Management LLC Decreases Stake in Camden Property Trust (NYSE:CPT)

Posted by Defense World Staff on Mar 9th, 2023

AlphaCrest Capital Management LLC cut its holdings in Camden Property Trust (NYSE:CPT – Get Rating) by 64.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,105 shares of the real estate investment trust’s stock after selling 9,124 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Camden Property Trust were worth $610,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in shares of Camden Property Trust by 179.1% in the third quarter. Parkside Financial Bank & Trust now owns 254 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 163 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Camden Property Trust by 231.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 272 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 190 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Camden Property Trust by 24.4% in the second quarter. Meeder Asset Management Inc. now owns 499 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 98 shares in the last quarter. Alpha Paradigm Partners LLC purchased a new stake in shares of Camden Property Trust in the second quarter valued at approximately $78,000. Finally, Wipfli Financial Advisors LLC acquired a new position in Camden Property Trust during the third quarter worth $110,000. 93.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Camden Property Trust

In related news, CAO Michael P. Gallagher sold 1,332 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $112.57, for a total value of $149,943.24. Following the completion of the transaction, the chief accounting officer now directly owns 28,110 shares in the company, valued at $3,164,342.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Camden Property Trust news, Director Heather J. Brunner sold 1,278 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $112.57, for a total transaction of $143,864.46. Following the completion of the sale, the director now owns 9,473 shares of the company’s stock, valued at $1,066,375.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Michael P. Gallagher sold 1,332 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $112.57, for a total value of $149,943.24. Following the sale, the chief accounting officer now directly owns 28,110 shares of the company’s stock, valued at approximately $3,164,342.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,902 shares of company stock worth $1,452,378. 2.00% of the stock is currently owned by insiders.

Camden Property Trust Stock Performance

Camden Property Trust stock opened at $113.38 on Thursday. The firm has a market capitalization of $12.10 billion, a P/E ratio of 18.93, a PEG ratio of 3.47 and a beta of 0.79. The stock has a fifty day moving average price of $117.60 and a 200 day moving average price of $118.54. Camden Property Trust has a 52 week low of $107.90 and a 52 week high of $175.69. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.73.

Camden Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be paid a $1.00 dividend. This is a positive change from Camden Property Trust’s previous quarterly dividend of $0.94. This represents a $4.00 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, March 30th. Camden Property Trust’s dividend payout ratio is presently 62.77%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup lifted their price objective on Camden Property Trust from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Tuesday, February 7th. Truist Financial reduced their price objective on Camden Property Trust from $160.00 to $136.00 and set a “buy” rating for the company in a report on Tuesday, November 29th. Mizuho lifted their price objective on Camden Property Trust from $131.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. UBS Group assumed coverage on Camden Property Trust in a report on Thursday, December 15th. They set a “buy” rating and a $137.00 price objective for the company. Finally, Piper Sandler cut Camden Property Trust from an “overweight” rating to a “neutral” rating and set a $136.00 price objective for the company. in a report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.62.

About Camden Property Trust

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Camden Property Trust operates as a real estate investment trust. The firm engages in the ownership, management, development, reposition, redevelopment, acquisition, and construction of multifamily apartment communities. It focus on investing in markets characterized by high-growth economic conditions, strong employment, and attractive quality of life.