Franklin Resources Inc. Sells 3,687 Shares of Camden Property Trust (CPT)
Franklin Resources Inc. cut its position in shares of Camden Property Trust (NYSE:CPT) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,033 shares of the real estate investment trust’s stock after selling 3,687 shares during the quarter. Franklin Resources Inc. owned approximately 0.16% of Camden Property Trust worth $12,145,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Suntrust Banks Inc. grew its holdings 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. UBS Asset Management Americas Inc. grew its stake in Camden Property Trust by 26.2% during the first quarter. UBS Asset Management Americas Inc. now owns 402,220 shares of the real estate investment trust’s stock worth $32,363,000 after buying an additional 83,478 shares during the period. Karp Capital Management Corp purchased a new stake in Camden Property Trust during the first quarter worth approximately $1,217,000. Parametric Portfolio Associates LLC grew its stake in Camden Property Trust by 7.3% during the first quarter. Parametric Portfolio Associates LLC now owns 104,315 shares of the real estate investment trust’s stock worth $8,393,000 after buying an additional 7,138 shares during the period. Finally, State of Wisconsin Investment Board grew its stake in Camden Property Trust by 16.2% during the first quarter. State of Wisconsin Investment Board now owns 87,314 shares of the real estate investment trust’s stock worth $7,025,000 after buying an additional 12,143 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.
Camden Property Trust (CPT) opened at 93.00 on Friday. The company has a market capitalization of $8.15 billion, a PE ratio of 20.81 and a beta of 0.38. Camden Property Trust has a one year low of $75.36 and a one year high of $96.39. The firm’s 50 day moving average price is $90.94 and its 200-day moving average price is $85.62.
Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $222.40 million during the quarter, compared to the consensus estimate of $222.44 million. During the same period in the prior year, the company posted $1.15 EPS. The company’s revenue was up .4% compared to the same quarter last year. Equities analysts forecast that Camden Property Trust will post $1.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be given a $0.75 dividend. The ex-dividend date is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 3.23%. Camden Property Trust’s dividend payout ratio is presently 67.11%.
Several equities research analysts have issued reports on CPT shares. Royal Bank Of Canada boosted their price objective on shares of Camden Property Trust from $91.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. BidaskClub raised shares of Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. KeyCorp upped their price target on shares of Camden Property Trust from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 15th. Sandler O’Neill raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and upped their price target for the company from $93.00 to $105.00 in a report on Tuesday, September 5th. Finally, Stifel Nicolaus initiated coverage on shares of Camden Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $99.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Camden Property Trust presently has a consensus rating of “Hold” and an average price target of $91.38.
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In other news, EVP William W. Sengelmann sold 5,085 shares of the stock in a transaction dated Wednesday, August 9th. The stock was 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 of the company’s stock, valued at $6,476,015.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President D Keith Oden sold 86,540 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $89.43, for a total value of $7,739,272.20. The disclosure for this sale can be found here. Insiders sold 118,584 shares of company stock valued at $10,618,035 over the last quarter. Corporate 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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