Citigroup Inc. Has $11.11 Million Position in Camden Property Trust (CPT)
Citigroup Inc. increased its stake in shares of Camden Property Trust (NYSE:CPT) by 70.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 129,863 shares of the real estate investment trust’s stock after buying an additional 53,877 shares during the quarter. Citigroup Inc. owned about 0.15% of Camden Property Trust worth $11,105,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in CPT. First Trust Advisors LP lifted its position in Camden Property Trust by 271.4% during the first quarter. First Trust Advisors LP now owns 112,753 shares of the real estate investment trust’s stock worth $9,072,000 after buying an additional 82,394 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Camden Property Trust by 178.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 5,510 shares of the real estate investment trust’s stock worth $465,000 after buying an additional 3,530 shares in the last quarter. Suntrust Banks Inc. raised its position in Camden Property Trust by 14.8% in the first quarter. Suntrust Banks Inc. now owns 3,753 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 484 shares during the period. Pictet Asset Management Ltd. raised its position in Camden Property Trust by 9.2% in the first quarter. Pictet Asset Management Ltd. now owns 33,300 shares of the real estate investment trust’s stock valued at $2,679,000 after purchasing an additional 2,800 shares during the period. Finally, World Asset Management Inc raised its position in Camden Property Trust by 1.6% in the first quarter. World Asset Management Inc now owns 6,670 shares of the real estate investment trust’s stock valued at $537,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 95.47% of the company’s stock.
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CPT has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their target price on Camden Property Trust from $91.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. BidaskClub upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. KeyCorp lifted their target price on Camden Property Trust from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, September 15th. Sandler O’Neill upgraded Camden Property Trust from a “hold” rating to a “buy” rating and lifted their target price for the company from $93.00 to $105.00 in a research report on Tuesday, September 5th. Finally, Stifel Nicolaus initiated coverage on Camden Property Trust in a research report on Friday, September 1st. They issued a “buy” rating and a $99.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $91.07.
Camden Property Trust (NYSE:CPT) traded up 0.64% on Thursday, reaching $94.27. The company had a trading volume of 46,453 shares. Camden Property Trust has a 12 month low of $75.36 and a 12 month high of $96.39. The firm has a 50-day moving average of $90.94 and a 200-day moving average of $85.62. The stock has a market capitalization of $8.26 billion, a P/E ratio of 21.09 and a beta of 0.38.
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 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 the consensus estimate 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 was up .4% on a year-over-year basis. During the same period last year, the firm earned $1.15 earnings per share. On average, equities research analysts expect that Camden Property Trust will post $1.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 annualized dividend and a dividend yield of 3.20%. Camden Property Trust’s dividend payout ratio is presently 67.11%.
In other news, EVP William W. Sengelmann sold 763 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $89.76, for a total transaction of $68,486.88. Following the completion of the sale, the executive vice president now directly owns 71,836 shares in the company, valued at $6,447,999.36. 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 5,085 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total value of $458,412.75. Following the sale, the executive vice president now owns 71,836 shares of the company’s stock, valued at $6,476,015.40. 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. Insiders own 4.70% of the company’s stock.
Camden Property Trust 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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