Intech Investment Management Boosts Stake in Camden Property Trust

Intech Investment Management LLC has increased its stake in Camden Property Trust (NYSE:CPT) by 15.0%, as reported in its recent 13F filing with the Securities and Exchange Commission. The institutional investor now holds 8,648 shares of the real estate investment trust (REIT) after acquiring an additional 1,128 shares during the second quarter of 2023. This investment is valued at approximately $975,000 as of the end of that quarter.

A variety of other institutional investors have also made adjustments to their positions in Camden Property Trust. For instance, Highland Capital Management LLC raised its stake by 17.3%, bringing its total to 24,767 shares valued at $2,791,000 after purchasing an additional 3,660 shares. Similarly, Allspring Global Investments Holdings LLC increased its holdings by 1.5%, now owning 16,789 shares worth $1,897,000 after acquiring 253 additional shares.

Fifth Third Bancorp boosted its stake by 3.0%, resulting in ownership of 5,331 shares valued at $601,000. Yousif Capital Management LLC notably increased its holdings by 43.1%, now owning 23,711 shares worth $2,672,000 after acquiring 7,141 additional shares. QRG Capital Management Inc. enhanced its position by 14.7%, holding 22,169 shares valued at $2,498,000 after purchasing 2,849 shares. Collectively, institutional investors now own 97.22% of Camden Property Trust’s stock.

Current Stock Performance and Dividend Announcement

As of today, Camden Property Trust shares are trading at $106.19, reflecting an increase of 1.5%. The stock has a fifty-day moving average of $103.51 and a two-hundred-day moving average of $109.49. Over the past year, shares have fluctuated between a low of $97.17 and a high of $127.65. The company’s market capitalization stands at approximately $11.30 billion, with a price-to-earnings ratio of 74.26.

On October 17, 2023, Camden Property Trust declared a quarterly dividend of $1.05, which was paid to investors of record on September 30, 2023. This dividend translates to an annualized payment of $4.20, yielding 4.0%. The company’s dividend payout ratio currently stands at 170.04%, indicating a robust commitment to returning value to shareholders.

Analyst Ratings and Market Outlook

Several financial institutions have recently reviewed Camden Property Trust, offering varied perspectives on its future performance. Cantor Fitzgerald maintained a “neutral” rating with a target price of $105.00 for the stock. Piper Sandler has reduced its price objective from $117.00 to $111.00, also maintaining a “neutral” rating.

In a notable downgrade, The Goldman Sachs Group shifted its rating from “neutral” to “sell,” lowering the target price from $118.00 to $106.00. Morgan Stanley has adjusted its target price marginally from $124.00 to $123.00, while Barclays set a target price of $118.00, labeling the stock as “equal weight.”

Currently, analysts have issued six “buy” ratings, ten “hold” ratings, and two “sell” ratings for Camden Property Trust. According to MarketBeat.com, the stock has an average rating of “hold” with a consensus target price of $117.99.

Camden Property Trust is a prominent S&P 500 company engaged primarily in the ownership, management, and development of multifamily apartment communities. The company operates 172 properties comprising 58,250 apartment homes across the United States, positioning itself as a key player in the real estate market.