Davis Selected Advisers Raises Stake in Camden Property Trust (CPT)
Davis Selected Advisers lifted its stake in shares of Camden Property Trust (NYSE:CPT) by 87.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 135,627 shares of the real estate investment trust’s stock after acquiring an additional 63,458 shares during the quarter. Davis Selected Advisers owned approximately 0.15% of Camden Property Trust worth $12,403,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of CPT. YorkBridge Wealth Partners LLC increased its holdings in Camden Property Trust by 6.1% during 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 period. Penserra Capital Management LLC purchased a new position in Camden Property Trust during the third quarter valued at approximately $110,000. Perigon Wealth Management LLC increased its holdings in Camden Property Trust by 59.3% during 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 period. Bbva Compass Bancshares Inc. purchased a new position in Camden Property Trust during the third quarter valued at approximately $234,000. Finally, Sawtooth Solutions LLC increased its holdings in Camden Property Trust by 2.7% during 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 period. 97.19% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on CPT. BMO Capital Markets reissued a “buy” rating and set a $95.00 price objective on shares of Camden Property Trust in a report on Friday, September 8th. Mizuho restated a “hold” rating and issued a $90.00 target price on shares of Camden Property Trust in a research note on Sunday, October 15th. KeyCorp raised 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, September 15th. Robert W. Baird restated a “neutral” rating and issued a $96.00 target price (up from $92.00) on shares of Camden Property Trust in a research note on Friday, September 22nd. Finally, UBS restated 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, September 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $92.53.
In related news, Chairman Richard J. Campo sold 379 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $94.44, for a total transaction of $35,792.76. Following the completion of the transaction, the chairman now directly owns 338,519 shares in the company, valued at $31,969,734.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President D Keith Oden sold 55,682 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $92.27, for a total transaction of $5,137,778.14. Following the transaction, the president now owns 364,771 shares of the company’s stock, valued at $33,657,420.17. The disclosure for this sale can be found here. Insiders have sold 121,394 shares of company stock valued at $11,201,585 over the last quarter. Insiders own 4.70% of the company’s stock.
Shares of Camden Property Trust (CPT) opened at $91.91 on Friday. Camden Property Trust has a one year low of $78.38 and a one year high of $96.39. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.64. The company has a market cap of $8,520.00, a price-to-earnings ratio of 20.58, a PEG ratio of 3.78 and a beta of 0.41.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data 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). Camden Property Trust had a return on equity of 4.71% and a net margin of 16.81%. The company had revenue of $228.18 million for the quarter, compared to analyst estimates of $226.41 million. During the same quarter in the previous year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. research analysts predict that Camden Property Trust will post 4.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, December 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.26%. Camden Property Trust’s payout ratio is currently 182.93%.
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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