Camden Property Trust (NYSE:CPT – Get Free Report) COO Laurie Baker sold 2,168 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $108.40, for a total transaction of $235,011.20. Following the transaction, the chief operating officer directly owned 94,468 shares in the company, valued at approximately $10,240,331.20. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Laurie Baker also recently made the following trade(s):
- On Tuesday, January 6th, Laurie Baker sold 150 shares of Camden Property Trust stock. The shares were sold at an average price of $110.21, for a total transaction of $16,531.50.
- On Monday, January 5th, Laurie Baker sold 531 shares of Camden Property Trust stock. The stock was sold at an average price of $109.79, for a total transaction of $58,298.49.
Camden Property Trust Stock Down 0.0%
CPT stock traded down $0.03 during trading on Thursday, reaching $108.54. The stock had a trading volume of 696,523 shares, compared to its average volume of 1,376,295. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $108.23 and a 200 day moving average price of $106.37. The company has a market capitalization of $11.22 billion, a P/E ratio of 30.66, a PEG ratio of 7.27 and a beta of 0.82. Camden Property Trust has a 1-year low of $97.17 and a 1-year high of $126.55.
Camden Property Trust Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Tuesday, March 31st will be given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.05. Camden Property Trust’s dividend payout ratio is currently 119.77%.
Camden Property Trust declared that its board has approved a stock buyback plan on Thursday, February 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase up to 5.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Piper Sandler set a $108.00 price target on shares of Camden Property Trust in a report on Tuesday, January 27th. Mizuho boosted their target price on shares of Camden Property Trust from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, January 12th. Stifel Nicolaus set a $118.50 price target on shares of Camden Property Trust in a research report on Friday, February 6th. Wells Fargo & Company lowered their price objective on Camden Property Trust from $111.00 to $110.00 and set an “equal weight” rating for the company in a report on Tuesday, November 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Camden Property Trust in a research note on Wednesday, January 21st. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Camden Property Trust presently has an average rating of “Hold” and an average target price of $117.15.
View Our Latest Stock Report on CPT
Institutional Investors Weigh In On Camden Property Trust
Several institutional investors and hedge funds have recently bought and sold shares of the business. Abich Financial Wealth Management LLC acquired a new position in Camden Property Trust in the third quarter valued at approximately $25,000. Quent Capital LLC acquired a new position in Camden Property Trust during the 3rd quarter valued at approximately $29,000. Hantz Financial Services Inc. boosted its position in Camden Property Trust by 524.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 281 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 236 shares during the period. Loomis Sayles & Co. L P acquired a new stake in Camden Property Trust in the second quarter worth $32,000. Finally, Clearstead Advisors LLC lifted its stake in Camden Property Trust by 92.0% in the fourth quarter. Clearstead Advisors LLC now owns 288 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.
Camden Property Trust Company Profile
Camden Property Trust is a publicly traded real estate investment trust (REIT) specializing in the ownership, development and management of multifamily residential communities across the United States. The company’s core business activities include acquiring land for new construction, overseeing the design and development of garden-style and mid-rise apartment communities, and providing ongoing property management services. Camden’s asset management team focuses on maintaining high occupancy levels, resident satisfaction and operational efficiency through consistent leasing, maintenance and community engagement programs.
Camden’s portfolio encompasses a geographically diversified mix of properties located primarily in high-growth Sun Belt and major metropolitan markets.
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