Camden Property Trust (CPT) Sees Unusually-High Trading Volume
Camden Property Trust (NYSE:CPT) shares saw unusually-strong trading volume on Friday . Approximately 568,113 shares changed hands during mid-day trading, an increase of 9% from the previous session’s volume of 523,558 shares.The stock last traded at $90.17 and had previously closed at $88.94.
Several analysts have recently commented on CPT shares. BTIG Research started coverage on Camden Property Trust in a research report on Thursday, August 25th. They issued a “neutral” rating for the company. Citigroup Inc. cut Camden Property Trust from a “buy” rating to a “neutral” rating in a research report on Monday, May 9th. Zelman & Associates cut Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Robert W. Baird cut Camden Property Trust from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $83.00 to $88.00 in a research report on Wednesday, August 10th. Finally, Barclays PLC lifted their price objective on Camden Property Trust from $91.00 to $92.00 and gave the company an “overweight” rating in a research report on Tuesday, July 19th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $87.00.
The firm has a 50 day moving average price of $87.52 and a 200-day moving average price of $83.79. The stock has a market cap of $7.83 billion and a price-to-earnings ratio of 13.83.
Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, July 28th. The real estate investment trust reported $1.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.15. The company earned $221.50 million during the quarter, compared to analyst estimates of $220.32 million. Camden Property Trust’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. On average, analysts anticipate that Camden Property Trust will post $4.55 EPS for the current year.
In other news, COO H Malcolm Stewart sold 11,446 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $87.27, for a total transaction of $998,892.42. Following the completion of the transaction, the chief operating officer now directly owns 264,012 shares in the company, valued at approximately $23,040,327.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William W. Sengelmann sold 2,398 shares of the stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $84.50, for a total transaction of $202,631.00. The disclosure for this sale can be found here.
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.