Camden Property Trust (NYSE:CPT) Stake Boosted by Prudential PLC

Posted by Defense World Staff on May 19th, 2023

Prudential PLC grew its stake in shares of Camden Property Trust (NYSE:CPT – Get Rating) by 93.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,536 shares of the real estate investment trust’s stock after purchasing an additional 2,197 shares during the quarter. Prudential PLC’s holdings in Camden Property Trust were worth $507,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CPT. Cohen & Steers Inc. boosted its position in shares of Camden Property Trust by 18.4% during the third quarter. Cohen & Steers Inc. now owns 11,319,751 shares of the real estate investment trust’s stock worth $1,352,022,000 after buying an additional 1,758,386 shares during the period. PGGM Investments acquired a new position in shares of Camden Property Trust during the third quarter worth approximately $123,786,000. State Street Corp boosted its position in shares of Camden Property Trust by 9.8% during the first quarter. State Street Corp now owns 6,066,515 shares of the real estate investment trust’s stock worth $1,013,817,000 after buying an additional 540,683 shares during the period. Renaissance Technologies LLC boosted its position in shares of Camden Property Trust by 384.2% during the first quarter. Renaissance Technologies LLC now owns 587,800 shares of the real estate investment trust’s stock worth $97,692,000 after buying an additional 466,400 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Camden Property Trust by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 2,069,866 shares of the real estate investment trust’s stock worth $344,011,000 after buying an additional 459,442 shares during the period. 93.25% of the stock is owned by institutional investors.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $106.95 on Friday. Camden Property Trust has a one year low of $97.74 and a one year high of $147.71. The stock has a fifty day moving average of $105.77 and a 200-day moving average of $112.45. The company has a market capitalization of $11.42 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 3.38 and a beta of 0.79. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.16 and a current ratio of 0.16.

Insider Activity

In other Camden Property Trust news, CEO Richard J. Campo sold 5,337 shares of the business’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $110.35, for a total transaction of $588,937.95. Following the sale, the chief executive officer now directly owns 246,799 shares of the company’s stock, valued at approximately $27,234,269.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CPT. Citigroup boosted their price objective 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. Mizuho boosted their price objective on Camden Property Trust from $131.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Piper Sandler upped their target price on Camden Property Trust from $117.00 to $124.00 in a research report on Monday, May 1st. Wells Fargo & Company started coverage on Camden Property Trust in a research report on Wednesday, March 29th. They issued an “underweight” rating and a $102.00 target price for the company. Finally, 1-800-FLOWERS.COM restated a “maintains” rating on shares of Camden Property Trust in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Camden Property Trust currently has an average rating of “Hold” and an average price target of $133.07.

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.