Investors purchased shares of Camden Property Trust (NYSE:CPT) on weakness during trading on Friday after Citigroup lowered their price target on the stock from $88.00 to $84.00. $44.12 million flowed into the stock on the tick-up and $12.46 million flowed out of the stock on the tick-down, for a money net flow of $31.66 million into the stock. Of all equities tracked, Camden Property Trust had the 19th highest net in-flow for the day. Camden Property Trust traded down ($1.08) for the day and closed at $83.74
Several other research analysts have also recently issued reports on CPT. SunTrust Banks Inc. cut shares of Camden Property Trust from a “buy” rating to a “neutral” rating and cut their target price for the stock from $87.00 to $84.00 in a report on Thursday, June 2nd. They noted that the move was a valuation call. Zelman & Associates lowered Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Zacks Investment Research raised Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $84.00 price target (up previously from $83.00) on shares of Camden Property Trust in a research note on Monday, July 18th. Finally, Barclays PLC raised their price target on Camden Property Trust from $91.00 to $92.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 19th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Camden Property Trust has an average rating of “Hold” and an average price target of $87.54.
In related news, EVP William W. Sengelmann sold 5,878 shares of Camden Property Trust stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $85.56, for a total value of $502,921.68. Following the completion of the sale, the executive vice president now directly owns 78,689 shares in the company, valued at approximately $6,732,630.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO H Malcolm Stewart sold 11,446 shares of Camden Property Trust stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $87.27, for a total value of $998,892.42. Following the completion of the sale, the chief operating officer now owns 264,012 shares of the company’s stock, valued at $23,040,327.24. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in CPT. Cohen & Steers Inc. increased its stake in Camden Property Trust by 1,532.7% in the second quarter. Cohen & Steers Inc. now owns 4,557,918 shares of the real estate investment trust’s stock valued at $403,011,000 after buying an additional 4,278,755 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Camden Property Trust by 817.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,614,404 shares of the real estate investment trust’s stock valued at $231,166,000 after buying an additional 2,329,541 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Camden Property Trust by 234.4% in the second quarter. JPMorgan Chase & Co. now owns 2,014,352 shares of the real estate investment trust’s stock valued at $178,108,000 after buying an additional 1,411,926 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Camden Property Trust by 19.5% in the second quarter. Bank of New York Mellon Corp now owns 2,835,096 shares of the real estate investment trust’s stock valued at $250,679,000 after buying an additional 463,446 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in Camden Property Trust during the second quarter valued at approximately $40,812,000. Institutional investors own 96.55% of the company’s stock.
The firm has a market capitalization of $7.32 billion, a P/E ratio of 12.93 and a beta of 0.65. The company has a 50 day moving average of $86.76 and a 200-day moving average of $85.15.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. Camden Property Trust had a return on equity of 6.89% and a net margin of 65.37%. The business had revenue of $221.50 million for the quarter, compared to the consensus estimate of $220.32 million. During the same quarter in the prior year, the company earned $1.12 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. Analysts predict that Camden Property Trust will post $4.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, September 28th. Camden Property Trust’s payout ratio is 46.44%.
Camden Property Trust Company Profile
Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. The Company operates in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities segment.
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