Fmr LLC Purchases 57,110 Shares of Camden Property Trust (CPT)
Fmr LLC raised its position in shares of Camden Property Trust (NYSE:CPT) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,817,141 shares of the real estate investment trust’s stock after purchasing an additional 57,110 shares during the period. Fmr LLC’s holdings in Camden Property Trust were worth $170,030,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Andra AP fonden raised its holdings in shares of Camden Property Trust by 25.0% during the 2nd quarter. Andra AP fonden now owns 66,900 shares of the real estate investment trust’s stock worth $6,097,000 after acquiring an additional 13,400 shares in the last quarter. Swiss National Bank raised its holdings in shares of Camden Property Trust by 9.5% during the 2nd quarter. Swiss National Bank now owns 493,900 shares of the real estate investment trust’s stock worth $45,009,000 after acquiring an additional 42,900 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Camden Property Trust by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 65,895 shares of the real estate investment trust’s stock worth $6,166,000 after acquiring an additional 1,484 shares in the last quarter. Employees Retirement System of Texas raised its holdings in shares of Camden Property Trust by 77.6% during the 2nd quarter. Employees Retirement System of Texas now owns 151,000 shares of the real estate investment trust’s stock worth $13,761,000 after acquiring an additional 66,000 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in shares of Camden Property Trust during the 2nd quarter worth approximately $1,753,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.
CPT has been the topic of several recent research reports. SunTrust Banks upped their price objective on Camden Property Trust to $95.00 and gave the stock an “average” rating in a report on Tuesday, August 14th. They noted that the move was a valuation call. Zacks Investment Research raised Camden Property Trust from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a report on Wednesday, October 31st. ValuEngine raised Camden Property Trust from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Capital One Financial began coverage on Camden Property Trust in a report on Monday, October 22nd. They set an “equal weight” rating and a $96.00 price target on the stock. Finally, Citigroup increased their price target on Camden Property Trust from $95.00 to $96.00 and gave the company a “hold” rating in a report on Tuesday, October 30th. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Camden Property Trust has a consensus rating of “Buy” and a consensus target price of $95.29.
Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.79). Camden Property Trust had a net margin of 21.81% and a return on equity of 5.94%. The company had revenue of $241.77 million for the quarter, compared to analysts’ expectations of $238.79 million. Sell-side analysts forecast that Camden Property Trust will post 4.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Monday, December 17th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 14th. This represents a $3.08 annualized dividend and a yield of 3.31%. Camden Property Trust’s payout ratio is presently 67.99%.
In other Camden Property Trust news, Director William B. Mcguire sold 2,190 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $92.60, for a total value of $202,794.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard J. Campo sold 63,000 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $94.69, for a total value of $5,965,470.00. Following the completion of the transaction, the chief executive officer now directly owns 230,393 shares in the company, valued at approximately $21,815,913.17. The disclosure for this sale can be found here. Insiders have sold a total of 94,505 shares of company stock worth $8,947,652 in the last 90 days. 4.70% of the stock is currently owned by insiders.
Camden Property Trust Company Profile
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 159 properties containing 54,480 apartment homes across the United States.
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