Fifth Third Bancorp Raises Holdings in Camden Property Trust (NYSE:CPT)

Posted by Defense World Staff on Apr 8th, 2023

Fifth Third Bancorp lifted its stake in Camden Property Trust (NYSE:CPT – Get Rating) by 54.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,279 shares of the real estate investment trust’s stock after buying an additional 5,014 shares during the quarter. Fifth Third Bancorp’s holdings in Camden Property Trust were worth $1,598,000 as of its most recent SEC filing.

Other hedge funds 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 worth $30,000 after buying an additional 163 shares during the last quarter. Phocas Financial Corp. purchased a new stake in shares of Camden Property Trust in the fourth quarter worth about $39,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Camden Property Trust in the third quarter worth about $110,000. Convergence Investment Partners LLC boosted its stake in shares of Camden Property Trust by 23.6% in the third quarter. Convergence Investment Partners LLC now owns 959 shares of the real estate investment trust’s stock worth $115,000 after buying an additional 183 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Camden Property Trust by 19.8% in the third quarter. CWM LLC now owns 1,047 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 93.25% of the company’s stock.

Camden Property Trust Price Performance

NYSE:CPT opened at $104.56 on Friday. Camden Property Trust has a one year low of $97.74 and a one year high of $174.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market cap of $11.38 billion, a PE ratio of 17.46, a P/E/G ratio of 3.07 and a beta of 0.79. The stock has a 50 day moving average price of $112.49 and a 200 day moving average price of $114.33.

Camden Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Thursday, March 30th. This is a boost from Camden Property Trust’s previous quarterly dividend of $0.94. Camden Property Trust’s dividend payout ratio (DPR) is currently 66.78%.

Wall Street Analysts Forecast Growth

CPT has been the topic of a number of recent analyst reports. Citigroup increased their price target on Camden Property Trust from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 7th. StockNews.com initiated coverage on Camden Property Trust in a research report on Thursday, March 16th. They set a “sell” rating on the stock. UBS Group initiated coverage on Camden Property Trust in a research report on Thursday, December 15th. They set a “buy” rating and a $137.00 price target on the stock. Piper Sandler lowered their price target on Camden Property Trust from $130.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Camden Property Trust from $153.00 to $140.00 in a research report on Wednesday, January 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $135.57.

Camden Property Trust Company Profile

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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.