Camden Property Trust (NYSE:CPT) Director Kelvin R. Westbrook sold 425 shares of Camden Property Trust stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $88.42, for a total value of $37,578.50. Following the completion of the transaction, the director now owns 20,477 shares of the company’s stock, valued at approximately $1,810,576.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Camden Property Trust (NYSE:CPT) traded down $1.10 during mid-day trading on Friday, hitting $83.40. The company’s stock had a trading volume of 1,320,000 shares, compared to its average volume of 493,177. Camden Property Trust has a twelve month low of $78.38 and a twelve month high of $96.39. The stock has a market cap of $7,730.00, a PE ratio of 50.55, a price-to-earnings-growth ratio of 3.27 and a beta of 0.34. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.64.
Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, February 1st. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.18 by ($0.27). Camden Property Trust had a return on equity of 6.15% and a net margin of 21.80%. The firm had revenue of $229.80 million during the quarter, compared to analysts’ expectations of $228.99 million. During the same quarter in the prior year, the company posted $1.15 earnings per share. Camden Property Trust’s quarterly revenue was up 5.8% compared to the same quarter last year. analysts forecast that Camden Property Trust will post 4.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Friday, March 30th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.69%. This is a boost from Camden Property Trust’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, March 28th. Camden Property Trust’s dividend payout ratio is currently 181.82%.
A number of brokerages have recently commented on CPT. Zacks Investment Research upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. BMO Capital Markets set a $96.00 target price on Camden Property Trust and gave the stock a “buy” rating in a report on Wednesday, January 24th. SunTrust Banks set a $89.00 price objective on Camden Property Trust and gave the company a “hold” rating in a report on Monday, January 22nd. TheStreet cut Camden Property Trust from a “b” rating to a “c+” rating in a report on Thursday, January 18th. Finally, Robert W. Baird restated a “hold” rating and set a $93.00 price objective on shares of Camden Property Trust in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Camden Property Trust presently has a consensus rating of “Hold” and an average price target of $93.33.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CPT. YorkBridge Wealth Partners LLC raised its position in shares of Camden Property Trust by 6.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 67 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Camden Property Trust in the 3rd quarter worth $110,000. Victory Capital Management Inc. raised its position in shares of Camden Property Trust by 285.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,386 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 1,026 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of 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 worth $185,000 after acquiring an additional 800 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. bought a new position in shares of Camden Property Trust in the 3rd quarter worth $234,000. 97.20% of the stock is owned by hedge funds and other institutional investors.
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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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