Redwood Investment Management LLC Acquires Shares of 26,956 Camden Property Trust (NYSE:CPT)

Redwood Investment Management LLC acquired a new position in shares of Camden Property Trust (NYSE:CPT) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 26,956 shares of the real estate investment trust’s stock, valued at approximately $2,736,000.

Several other hedge funds have also recently modified their holdings of the business. Metropolitan Life Insurance Co NY grew its holdings in shares of Camden Property Trust by 3.2% during the first quarter. Metropolitan Life Insurance Co NY now owns 32,518 shares of the real estate investment trust’s stock worth $3,300,000 after buying an additional 1,019 shares during the last quarter. Cleararc Capital Inc. purchased a new position in shares of Camden Property Trust during the first quarter worth about $252,000. MetLife Investment Advisors LLC grew its holdings in shares of Camden Property Trust by 3.7% during the first quarter. MetLife Investment Advisors LLC now owns 58,896 shares of the real estate investment trust’s stock worth $5,978,000 after buying an additional 2,112 shares during the last quarter. Accident Compensation Corp grew its holdings in shares of Camden Property Trust by 4.3% during the first quarter. Accident Compensation Corp now owns 4,900 shares of the real estate investment trust’s stock worth $497,000 after buying an additional 200 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Camden Property Trust during the first quarter worth about $255,000. 93.17% of the stock is currently owned by institutional investors.

In other news, Chairman Richard J. Campo sold 60,000 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $105.32, for a total transaction of $6,319,200.00. Following the completion of the sale, the chairman now directly owns 273,948 shares in the company, valued at approximately $28,852,203.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William F. Paulsen sold 1,979 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $102.19, for a total transaction of $202,234.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,479 shares of company stock valued at $10,475,434. Insiders own 3.40% of the company’s stock.

Shares of CPT opened at $107.06 on Monday. Camden Property Trust has a twelve month low of $83.67 and a twelve month high of $106.92. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 3.19 and a beta of 0.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.21 and a current ratio of 0.21.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.22. Camden Property Trust had a return on equity of 4.45% and a net margin of 15.98%. The company had revenue of $248.57 million for the quarter, compared to analyst estimates of $246.50 million. During the same quarter in the previous year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts expect that Camden Property Trust will post 5.07 EPS for the current year.

A number of equities analysts recently issued reports on the company. SunTrust Banks raised their price target on Camden Property Trust to $108.00 and gave the stock a “buy” rating in a report on Thursday. Barclays reissued a “buy” rating and set a $108.00 price target on shares of Camden Property Trust in a report on Tuesday, April 16th. Sandler O’Neill lowered Camden Property Trust from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Finally, KeyCorp raised their price target on Camden Property Trust from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Camden Property Trust presently has a consensus rating of “Buy” and a consensus price target of $100.53.

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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 161 properties containing 55,160 apartment homes across the United States.

Further Reading: Special Dividends

Want to see what other hedge funds are holding CPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Camden Property Trust (NYSE:CPT).

Institutional Ownership by Quarter for Camden Property Trust (NYSE:CPT)

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