Camden Property Trust (CPT) EVP Sells $458,412.75 in Stock
Camden Property Trust (NYSE:CPT) EVP William W. Sengelmann sold 5,085 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total value of $458,412.75. Following the completion of the sale, the executive vice president now owns 71,836 shares in the company, valued at approximately $6,476,015.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Camden Property Trust (CPT) traded up 0.32% on Wednesday, reaching $90.35. The company had a trading volume of 516,337 shares. Camden Property Trust has a 12 month low of $75.36 and a 12 month high of $90.83. The stock has a market capitalization of $7.92 billion, a P/E ratio of 20.21 and a beta of 0.37. The firm has a 50-day moving average of $87.42 and a 200-day moving average of $83.76.
Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The company had revenue of $222.40 million for the quarter, compared to analyst estimates of $222.44 million. During the same period last year, the company posted $1.15 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. On average, equities research analysts expect that Camden Property Trust will post $1.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, June 28th. This represents a $3.00 annualized dividend and a dividend yield of 3.32%. Camden Property Trust’s dividend payout ratio is presently 67.11%.
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Several research firms recently issued reports on CPT. Royal Bank Of Canada boosted their price objective on Camden Property Trust from $91.00 to $95.00 and gave the company an “outperform” rating in a report on Monday. Barclays PLC boosted their price objective on Camden Property Trust from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. BidaskClub upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. KeyCorp upgraded Camden Property Trust from a “sector weight” rating to an “overweight” rating and set a $93.00 price objective on the stock in a report on Tuesday, June 13th. They noted that the move was a valuation call. Finally, BMO Capital Markets upgraded Camden Property Trust from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $81.00 to $89.00 in a report on Thursday, May 25th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Camden Property Trust currently has a consensus rating of “Hold” and a consensus price target of $88.38.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Camden Property Trust by 3,883.3% in the first quarter. BlackRock Inc. now owns 10,140,490 shares of the real estate investment trust’s stock valued at $815,902,000 after buying an additional 9,885,917 shares in the last quarter. Morgan Stanley increased its stake in shares of Camden Property Trust by 35.4% in the first quarter. Morgan Stanley now owns 3,501,894 shares of the real estate investment trust’s stock valued at $281,763,000 after buying an additional 915,901 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Camden Property Trust by 234.2% in the first quarter. Prudential Financial Inc. now owns 1,074,799 shares of the real estate investment trust’s stock valued at $86,478,000 after buying an additional 753,214 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Camden Property Trust by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,104,790 shares of the real estate investment trust’s stock valued at $1,134,871,000 after buying an additional 357,480 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Camden Property Trust by 51.7% in the second quarter. Russell Investments Group Ltd. now owns 774,012 shares of the real estate investment trust’s stock valued at $66,224,000 after buying an additional 263,839 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.
About Camden Property Trust
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. As of December 31, 2016, the Company owned interests in, operated, or were developing 159 multifamily properties, which consisted of 55,366 apartment homes across the United States.
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