Camden Property Trust (NYSE:CPT) Director Kelvin R. Westbrook sold 425 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $88.42, for a total value of $37,578.50. Following the sale, the director now owns 20,477 shares in the company, valued at approximately $1,810,576.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Camden Property Trust (NYSE CPT) opened at $84.71 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.94 and a quick ratio of 1.94. The firm has a market capitalization of $7,923.72, a price-to-earnings ratio of 51.65, a P/E/G ratio of 3.31 and a beta of 0.42. Camden Property Trust has a 52-week low of $78.38 and a 52-week high of $96.39.
Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, October 26th. The real estate investment trust reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.03). The firm had revenue of $228.18 million during the quarter, compared to analysts’ expectations of $226.41 million. Camden Property Trust had a return on equity of 4.71% and a net margin of 16.81%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.13 earnings per share. analysts predict 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 was paid on Wednesday, January 17th. Investors of record on Friday, December 15th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Thursday, December 14th. Camden Property Trust’s dividend payout ratio (DPR) is currently 182.93%.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Camden Property Trust from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Robert W. Baird reissued a “hold” rating and set a $93.00 price target on shares of Camden Property Trust in a research note on Tuesday, January 9th. JPMorgan Chase & Co. raised Camden Property Trust from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a research note on Friday, December 15th. BMO Capital Markets reissued a “buy” rating and set a $97.00 price target on shares of Camden Property Trust in a research note on Monday, November 27th. Finally, Mizuho reissued a “hold” rating and set a $94.00 price target on shares of Camden Property Trust in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Camden Property Trust has an average rating of “Hold” and a consensus target price of $93.67.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Camden Property Trust by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,190,009 shares of the real estate investment trust’s stock worth $1,213,387,000 after buying an additional 85,219 shares during the period. BlackRock Inc. raised its position in shares of Camden Property Trust by 3.1% in the 2nd quarter. BlackRock Inc. now owns 10,451,376 shares of the real estate investment trust’s stock worth $893,697,000 after buying an additional 310,886 shares during the period. JPMorgan Chase & Co. raised its position in shares of Camden Property Trust by 27.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,636,486 shares of the real estate investment trust’s stock worth $332,848,000 after buying an additional 778,543 shares during the period. Bank of New York Mellon Corp raised its position in shares of Camden Property Trust by 93.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,365,047 shares of the real estate investment trust’s stock worth $216,282,000 after buying an additional 1,144,162 shares during the period. Finally, Cohen & Steers Inc. purchased a new position in shares of Camden Property Trust in the 3rd quarter worth $193,833,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.
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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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