Pinebridge Investments L.P. Acquires New Stake in Camden Property Trust (NYSE:CPT)

June 9, 2024

3 minutes read

Pinebridge Investments L.P. bought a new position in shares of Camden Property Trust (NYSE:CPT – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,839 shares of the real estate investment trust’s stock, valued at approximately $1,374,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its stake in shares of Camden Property Trust by 60.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 381 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 144 shares during the last quarter. Tobam grew its position in Camden Property Trust by 4,166.7% in the fourth quarter. Tobam now owns 384 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 375 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Camden Property Trust by 23.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 636 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 119 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Camden Property Trust during the 3rd quarter valued at $69,000. Finally, Cetera Trust Company N.A bought a new stake in shares of Camden Property Trust during the 4th quarter worth $116,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPT has been the topic of a number of recent analyst reports. Scotiabank boosted their target price on Camden Property Trust from $104.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Barclays lowered shares of Camden Property Trust from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $138.00 to $100.00 in a research note on Tuesday, February 20th. Piper Sandler raised shares of Camden Property Trust from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $90.00 to $110.00 in a research report on Monday, May 6th. UBS Group upped their price target on shares of Camden Property Trust from $105.00 to $109.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Finally, StockNews.com upgraded shares of Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $108.03.

Check Out Our Latest Research Report on Camden Property Trust

Camden Property Trust Price Performance

Shares of CPT opened at $106.69 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $11.37 billion, a PE ratio of 26.15, a PEG ratio of 4.18 and a beta of 0.86. The firm’s 50 day moving average price is $101.78 and its 200 day moving average price is $98.17. Camden Property Trust has a twelve month low of $82.81 and a twelve month high of $114.04.

Camden Property Trust Profile

(Free Report)

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 58,634 apartment homes across the United States.