Camden Property Trust (CPT) Sees Strong Trading Volume
Camden Property Trust (NYSE:CPT) shares saw unusually-strong trading volume on Friday . Approximately 568,113 shares traded hands during 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.
A number of analysts recently commented on CPT shares. Zacks Investment Research raised Camden Property Trust from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Monday, July 18th. RBC Capital Markets reaffirmed a “buy” rating on shares of Camden Property Trust in a research note on Monday, August 29th. Deutsche Bank AG reaffirmed a “hold” rating and set a $84.00 price objective (up previously from $83.00) on shares of Camden Property Trust in a research note on Monday, July 18th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Camden Property Trust in a research note on Tuesday, May 10th. Finally, SunTrust Banks Inc. lowered Camden Property Trust from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $87.00 to $84.00 in a research note on Thursday, June 2nd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $87.00.
The company has a market cap of $7.83 billion and a price-to-earnings ratio of 13.83. The company’s 50 day moving average is $87.52 and its 200 day moving average is $83.79.
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 (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The company had revenue of $221.50 million for the quarter, compared to analyst estimates of $220.32 million. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $1.12 earnings per share. Analysts predict that Camden Property Trust will post $4.55 earnings per share for the current year.
In other news, Chairman Richard J. Campo sold 22,318 shares of Camden Property Trust stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $88.33, for a total transaction of $1,971,348.94. Following the transaction, the chairman now owns 410,649 shares in the company, valued at $36,272,626.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William W. Sengelmann sold 2,398 shares of Camden Property Trust stock in a transaction on Friday, June 24th. The shares were sold at an average price of $84.50, for a total value 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.
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