Westpac Banking Corp increased its position in Camden Property Trust (NYSE:CPT) by 245.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 112,478 shares of the real estate investment trust’s stock after buying an additional 79,954 shares during the period. Westpac Banking Corp owned about 0.12% of Camden Property Trust worth $11,742,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Camden Property Trust by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,380,599 shares of the real estate investment trust’s stock valued at $121,560,000 after acquiring an additional 5,954 shares in the last quarter. Geode Capital Management LLC raised its holdings in Camden Property Trust by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 1,280,615 shares of the real estate investment trust’s stock valued at $112,701,000 after acquiring an additional 98,418 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Camden Property Trust in the 1st quarter valued at $346,000. Virtu Financial LLC acquired a new position in Camden Property Trust in the 1st quarter valued at $689,000. Finally, Retirement Systems of Alabama raised its holdings in Camden Property Trust by 5.3% in the 1st quarter. Retirement Systems of Alabama now owns 251,793 shares of the real estate investment trust’s stock valued at $25,557,000 after acquiring an additional 12,742 shares in the last quarter. 92.88% of the stock is owned by institutional investors.
CPT has been the subject of several analyst reports. SunTrust Banks lifted their price objective on Camden Property Trust to $108.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Zacks Investment Research cut Camden Property Trust from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th. KeyCorp lifted their price objective on Camden Property Trust from $105.00 to $112.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. DA Davidson cut Camden Property Trust from a “buy” rating to a “neutral” rating in a report on Tuesday, July 23rd. Finally, Barclays reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Camden Property Trust in a report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $102.43.
In related news, Director William F. Paulsen sold 1,979 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $102.19, for a total transaction of $202,234.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President D Keith Oden sold 37,500 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $105.44, for a total value of $3,954,000.00. Following the sale, the president now owns 291,083 shares in the company, valued at approximately $30,691,791.52. The disclosure for this sale can be found here. Insiders have sold a total of 117,658 shares of company stock worth $12,417,641 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.
Shares of Camden Property Trust stock traded down $1.69 during trading on Wednesday, reaching $103.80. 14,080 shares of the company’s stock were exchanged, compared to its average volume of 513,300. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.67. Camden Property Trust has a 1-year low of $83.67 and a 1-year high of $110.42. The stock has a market cap of $10.24 billion, a P/E ratio of 21.83, a P/E/G ratio of 3.03 and a beta of 0.45. The company has a 50-day simple moving average of $106.28.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.84). Camden Property Trust had a return on equity of 4.48% and a net margin of 16.05%. The business had revenue of $255.76 million for the quarter, compared to analyst estimates of $252.76 million. During the same period last year, the firm posted $1.00 EPS. Camden Property Trust’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Camden Property Trust will post 5.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, June 27th. This represents a $3.20 dividend on an annualized basis and a yield of 3.08%. Camden Property Trust’s dividend payout ratio is currently 67.09%.
Camden Property Trust 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.
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