Camden Property Trust (CPT) Shares Gap Up to $88.94
Camden Property Trust (NYSE:CPT) shares gapped up prior to trading on Monday . The stock had previously closed at $88.55, but opened at $88.94. Camden Property Trust shares last traded at $89.59, with a volume of 895,500 shares.
CPT has been the topic of a number of research analyst reports. Zacks Investment Research raised Camden Property Trust from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report 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 issued 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. downgraded Camden Property Trust from a “buy” rating to a “neutral” rating and reduced their price objective 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 investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $87.00.
The stock has a market capitalization of $7.83 billion and a price-to-earnings ratio of 13.83. The firm has a 50 day moving average of $87.52 and a 200 day moving average of $83.79.
Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, July 28th. The real estate investment trust reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The firm earned $221.50 million during the quarter, compared to analysts’ expectations of $220.32 million. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 EPS. On average, equities analysts predict that Camden Property Trust will post $4.55 earnings per share for the current fiscal year.
In other news, Chairman Richard J. Campo sold 22,318 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $88.33, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William W. Sengelmann sold 2,398 shares of the firm’s stock in a transaction that occurred 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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