Westfield Capital Management Co. LP Purchases New Position in Camden Property Trust (CPT)
Westfield Capital Management Co. LP acquired a new stake in shares of Camden Property Trust (NYSE:CPT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 219,300 shares of the real estate investment trust’s stock, valued at approximately $20,055,000. Westfield Capital Management Co. LP owned 0.24% of Camden Property Trust as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. YorkBridge Wealth Partners LLC raised its holdings in shares of Camden Property Trust by 6.1% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 67 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of Camden Property Trust in the third quarter valued at about $110,000. Perigon Wealth Management LLC raised its holdings in shares of Camden Property Trust by 59.3% in the second quarter. Perigon Wealth Management LLC now owns 2,150 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 800 shares during the last quarter. Bbva Compass Bancshares Inc. bought a new position in shares of Camden Property Trust in the third quarter valued at about $234,000. Finally, Sawtooth Solutions LLC raised its holdings in shares of 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 buying an additional 72 shares during the last quarter. 97.19% of the stock is owned by institutional investors.
In other Camden Property Trust news, Chairman Richard J. Campo sold 379 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $94.44, for a total value of $35,792.76. Following the sale, the chairman now owns 338,519 shares in the company, valued at approximately $31,969,734.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.70% of the company’s stock.
A number of research firms recently issued reports on CPT. BMO Capital Markets reaffirmed a “buy” rating and issued a $97.00 price target on shares of Camden Property Trust in a report on Monday, November 27th. Royal Bank Of Canada lifted their price target on Camden Property Trust from $91.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Mizuho reissued a “hold” rating and set a $90.00 price objective on shares of Camden Property Trust in a report on Sunday, October 15th. Deutsche Bank boosted their price objective on Camden Property Trust from $84.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Finally, SunTrust Banks reissued a “hold” rating and set a $93.00 price objective on shares of Camden Property Trust in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $92.53.
Camden Property Trust (CPT) traded up $0.19 during midday trading on Tuesday, reaching $91.96. The company’s stock had a trading volume of 565,700 shares, compared to its average volume of 610,364. The company has a market cap of $8,504.80, a PE ratio of 20.39, a price-to-earnings-growth ratio of 3.75 and a beta of 0.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.94 and a quick ratio of 1.94. Camden Property Trust has a 12-month low of $77.54 and a 12-month high of $96.39.
Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, October 26th. The real estate investment trust reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.03). The firm had revenue of $228.18 million during the quarter, compared to the consensus estimate of $226.41 million. Camden Property Trust had a net margin of 16.81% and a return on equity of 4.71%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS. sell-side analysts forecast that Camden Property Trust will post 4.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, December 15th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, December 14th. Camden Property Trust’s payout ratio is 182.93%.
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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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