Bank of Montreal Can Boosts Stake in Camden Property Trust (CPT)
Bank of Montreal Can raised its position in Camden Property Trust (NYSE:CPT) by 15.1% during the second quarter, Holdings Channel reports. The institutional investor owned 30,833 shares of the real estate investment trust’s stock after buying an additional 4,035 shares during the period. Bank of Montreal Can’s holdings in Camden Property Trust were worth $2,637,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Capstone Asset Management Co. raised its position in shares of Camden Property Trust by 3.3% in the second quarter. Capstone Asset Management Co. now owns 47,847 shares of the real estate investment trust’s stock worth $4,091,000 after buying an additional 1,524 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Camden Property Trust by 8.6% in the first quarter. Nuveen Asset Management LLC now owns 1,327,236 shares of the real estate investment trust’s stock worth $106,789,000 after buying an additional 105,014 shares in the last quarter. Perigon Wealth Management LLC acquired a new position in shares of Camden Property Trust during the first quarter worth $110,000. Achmea Investment Management B.V. acquired a new position in shares of Camden Property Trust during the first quarter worth $2,446,000. Finally, Ranger Global Real Estate Advisors LLC acquired a new position in shares of Camden Property Trust during the first quarter worth $3,557,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.
Camden Property Trust (CPT) traded down 0.791% on Thursday, hitting $89.635. 76,104 shares of the company’s stock traded hands. The stock has a market cap of $7.86 billion, a P/E ratio of 20.053 and a beta of 0.37. The stock has a 50 day moving average price of $87.51 and a 200-day moving average price of $83.92. Camden Property Trust has a 12 month low of $75.36 and a 12 month high of $90.83.
Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.02. The business had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $222.44 million. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 EPS. Equities analysts predict that Camden Property Trust will post $1.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend 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 (DPR) is 67.11%.
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A number of brokerages have recently issued reports on CPT. Royal Bank Of Canada increased their price target on shares of Camden Property Trust from $91.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday. Barclays PLC increased their price target on shares of Camden Property Trust from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. BidaskClub raised shares of Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. KeyCorp raised shares of Camden Property Trust from a “sector weight” rating to an “overweight” rating and set a $93.00 price target on the stock in a report on Tuesday, June 13th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised shares of Camden Property Trust from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $81.00 to $89.00 in a report on Thursday, May 25th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $88.38.
In other news, EVP Alexander J. Jessett sold 11,788 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $89.81, for a total transaction of $1,058,680.28. Following the sale, the executive vice president now directly owns 56,783 shares of the company’s stock, valued at approximately $5,099,681.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William W. Sengelmann sold 763 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $89.76, for a total value of $68,486.88. Following the sale, the executive vice president now directly owns 71,836 shares in the company, valued at $6,447,999.36. The disclosure for this sale can be found here. Insiders have sold a total of 120,811 shares of company stock worth $10,812,185 over the last ninety days. Insiders own 4.70% of the company’s stock.
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. 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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