State Treasurer State of Michigan Sells 1,400 Shares of Camden Property Trust (CPT)
State Treasurer State of Michigan reduced its position in Camden Property Trust (NYSE:CPT) by 4.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 33,300 shares of the real estate investment trust’s stock after selling 1,400 shares during the quarter. State Treasurer State of Michigan’s holdings in Camden Property Trust were worth $3,066,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CPT. Penserra Capital Management LLC acquired a new position in Camden Property Trust in the 3rd quarter valued at $110,000. Perigon Wealth Management LLC increased its stake in Camden Property Trust by 59.3% in the 2nd 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. acquired a new position in Camden Property Trust in the 3rd quarter valued at $234,000. Koch Industries Inc. acquired a new position in Camden Property Trust in the 2nd quarter valued at $236,000. Finally, Creative Planning acquired a new position in Camden Property Trust in the 4th quarter valued at $308,000. 97.22% of the stock is currently owned by institutional investors.
In related news, President D Keith Oden sold 55,682 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $92.27, for a total value of $5,137,778.14. Following the sale, the president now directly owns 364,771 shares in the company, valued at approximately $33,657,420.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard J. Campo sold 379 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $94.44, for a total transaction of $35,792.76. Following the completion of the sale, the chairman now owns 338,519 shares in the company, valued at $31,969,734.36. The disclosure for this sale can be found here. Insiders sold a total of 126,297 shares of company stock worth $11,635,108 over the last quarter. Insiders own 4.70% of the company’s stock.
Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, February 1st. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.27). The company had revenue of $229.80 million for the quarter, compared to analysts’ expectations of $228.99 million. Camden Property Trust had a return on equity of 6.01% and a net margin of 21.80%. Camden Property Trust’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 earnings per share. sell-side analysts predict that Camden Property Trust will post 4.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 17th. Investors of record on Friday, March 30th will be given a $0.77 dividend. The ex-dividend date is Wednesday, March 28th. This is a positive change from Camden Property Trust’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 3.81%. Camden Property Trust’s payout ratio is currently 142.86%.
Several equities analysts have issued reports on the stock. Mizuho set a $81.00 price objective on shares of Camden Property Trust and gave the company a “hold” rating in a research note on Friday. Sandler O’Neill set a $97.00 price objective on shares of Camden Property Trust and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus reissued a “buy” rating and issued a $94.00 price objective on shares of Camden Property Trust in a research note on Monday, February 5th. Zacks Investment Research raised shares of Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Finally, BMO Capital Markets set a $96.00 price objective on shares of Camden Property Trust and gave the company a “buy” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $91.60.
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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