Camden Property Trust (CPT) Holdings Cut by Tredje AP fonden
Tredje AP fonden trimmed its position in Camden Property Trust (NYSE:CPT) by 2.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,900 shares of the real estate investment trust’s stock after selling 165 shares during the period. Tredje AP fonden’s holdings in Camden Property Trust were worth $595,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of CPT. Perigon Wealth Management LLC bought a new stake in Camden Property Trust in the 1st quarter worth about $110,000. Laurion Capital Management LP purchased a new position in Camden Property Trust in the first quarter valued at about $201,000. Eqis Capital Management Inc. purchased a new position in Camden Property Trust in the second quarter valued at about $201,000. Sawtooth Solutions LLC boosted its stake in Camden Property Trust by 2.7% in the second quarter. Sawtooth Solutions LLC now owns 2,701 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 72 shares during the last quarter. Finally, Visionary Asset Management Inc. purchased a new position in Camden Property Trust in the second quarter valued at about $260,000. 95.94% of the stock is owned by institutional investors and hedge funds.
Shares of Camden Property Trust (CPT) opened at 94.20 on Friday. The stock has a market capitalization of $8.26 billion, a PE ratio of 21.07 and a beta of 0.38. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $96.39. The company’s 50 day moving average is $90.69 and its 200-day moving average is $85.43.
Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $222.40 million during the quarter, compared to analyst estimates of $222.44 million. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 earnings per share. On average, equities analysts predict that Camden Property Trust will post $1.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 3.18%. Camden Property Trust’s dividend payout ratio (DPR) is 67.11%.
In related news, EVP William W. Sengelmann sold 5,085 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total transaction of $458,412.75. Following the completion of the sale, the executive vice president now directly owns 71,836 shares in the company, valued at $6,476,015.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander J. Jessett sold 11,788 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were 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 owns 56,783 shares of the company’s stock, valued at $5,099,681.23. The disclosure for this sale can be found here. Insiders have sold 118,584 shares of company stock valued at $10,618,035 over the last 90 days. 4.70% of the stock is currently owned by company insiders.
A number of research firms have weighed in on CPT. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 target price on shares of Camden Property Trust in a research note on Friday, September 8th. KeyCorp boosted their target price on shares of Camden Property Trust from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday. UBS AG reiterated a “sell” rating and issued a $86.00 target price (up from $80.00) on shares of Camden Property Trust in a research note on Thursday. Sandler O’Neill upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and boosted their target price for the company from $93.00 to $105.00 in a research note on Tuesday, September 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Camden Property Trust from $91.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $91.07.
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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