BlackRock Inc. increased its holdings in shares of Camden Property Trust (NYSE:CPT) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,451,376 shares of the real estate investment trust’s stock after purchasing an additional 310,886 shares during the period. BlackRock Inc. owned 11.92% of Camden Property Trust worth $893,697,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Camden Property Trust by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,104,790 shares of the real estate investment trust’s stock worth $1,134,871,000 after purchasing an additional 357,480 shares during the period. State Street Corp boosted its position in Camden Property Trust by 1.5% during the 1st quarter. State Street Corp now owns 4,488,687 shares of the real estate investment trust’s stock worth $361,144,000 after purchasing an additional 65,704 shares during the period. Morgan Stanley boosted its position in Camden Property Trust by 35.4% during the 1st quarter. Morgan Stanley now owns 3,501,894 shares of the real estate investment trust’s stock worth $281,763,000 after purchasing an additional 915,901 shares during the period. Nuveen Asset Management LLC boosted its position in Camden Property Trust by 8.6% during the 1st quarter. Nuveen Asset Management LLC now owns 1,327,236 shares of the real estate investment trust’s stock worth $106,789,000 after purchasing an additional 105,014 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Camden Property Trust by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,220,885 shares of the real estate investment trust’s stock worth $104,399,000 after purchasing an additional 15,780 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.
In other Camden Property Trust news, EVP Alexander J. Jessett sold 11,788 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $89.81, for a total value of $1,058,680.28. Following the sale, the executive vice president now directly owns 56,783 shares in the company, valued at approximately $5,099,681.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William W. Sengelmann sold 5,085 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $90.15, for a total transaction of $458,412.75. Following the completion of the sale, the executive vice president now owns 71,836 shares in the company, valued at $6,476,015.40. The disclosure for this sale can be found here. Insiders sold a total of 118,584 shares of company stock worth $10,618,035 over the last 90 days. Company insiders own 4.70% of the company’s stock.
Shares of Camden Property Trust (NYSE CPT) opened at 94.05 on Tuesday. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of 21.04 and a beta of 0.38. The stock has a 50 day moving average of $90.82 and a 200-day moving average of $85.53. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $96.39.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $222.40 million for the quarter, compared to analyst estimates of $222.44 million. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the business posted $1.15 EPS. Equities research analysts expect that Camden Property Trust will post $1.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 3.19%. Camden Property Trust’s dividend payout ratio is 67.11%.
A number of equities analysts have commented on CPT shares. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 price objective on shares of Camden Property Trust in a report on Friday, September 8th. Sandler O’Neill upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $93.00 to $105.00 in a report on Tuesday, September 5th. Stifel Nicolaus started coverage on shares of Camden Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $99.00 price objective on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $91.00 price objective on shares of Camden Property Trust in a report on Sunday, July 16th. Finally, Barclays PLC boosted their price objective on shares of Camden Property Trust from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $91.07.
Camden Property Trust Company Profile
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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