Short Interest in Camden Property Trust (NYSE:CPT) Increases By 8.5%

Camden Property Trust (NYSE:CPT) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,150,000 shares, an increase of 8.5% from the January 15th total of 1,060,000 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average trading volume of 517,800 shares, the short-interest ratio is presently 2.2 days.

In other Camden Property Trust news, Director Scott S. Ingraham sold 322 shares of Camden Property Trust stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $105.76, for a total transaction of $34,054.72. Following the completion of the sale, the director now directly owns 77,075 shares in the company, valued at approximately $8,151,452. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Campo sold 30,211 shares of Camden Property Trust stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $105.76, for a total transaction of $3,195,115.36. Following the sale, the chief executive officer now owns 184,010 shares of the company’s stock, valued at $19,460,897.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,330 shares of company stock valued at $22,127,659. Company insiders own 3.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Camden Property Trust by 0.8% in the 2nd quarter. BlackRock Inc. now owns 13,289,889 shares of the real estate investment trust’s stock worth $1,387,330,000 after acquiring an additional 104,896 shares in the last quarter. State Street Corp increased its holdings in Camden Property Trust by 1.2% in the 3rd quarter. State Street Corp now owns 6,020,883 shares of the real estate investment trust’s stock worth $673,127,000 after acquiring an additional 71,653 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Camden Property Trust by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,360,289 shares of the real estate investment trust’s stock worth $144,327,000 after acquiring an additional 33,648 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Camden Property Trust by 4.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,308,994 shares of the real estate investment trust’s stock worth $138,884,000 after acquiring an additional 53,520 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Camden Property Trust by 1,004.8% in the 3rd quarter. Millennium Management LLC now owns 915,350 shares of the real estate investment trust’s stock worth $101,613,000 after acquiring an additional 832,501 shares in the last quarter. 92.37% of the stock is owned by institutional investors.

Shares of CPT traded up $1.32 during trading hours on Friday, hitting $118.89. The stock had a trading volume of 423,106 shares, compared to its average volume of 601,439. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.22. The firm has a 50-day moving average price of $109.65 and a 200 day moving average price of $109.59. Camden Property Trust has a fifty-two week low of $96.05 and a fifty-two week high of $118.89. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 3.51 and a beta of 0.37.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.57. Camden Property Trust had a net margin of 21.35% and a return on equity of 5.95%. The firm had revenue of $263.50 million during the quarter, compared to analysts’ expectations of $262.36 million. During the same period in the previous year, the business posted $1.23 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts predict that Camden Property Trust will post 5.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Tuesday, March 31st will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Monday, March 30th. Camden Property Trust’s payout ratio is presently 63.49%.

Several analysts have commented on CPT shares. KeyCorp restated an “overweight” rating and set a $122.00 price objective (up from $117.00) on shares of Camden Property Trust in a research note on Wednesday. Deutsche Bank upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating in a research note on Monday, January 6th. Evercore ISI started coverage on shares of Camden Property Trust in a research note on Friday, January 31st. They set a “hold” rating and a $117.00 price objective for the company. Cfra upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $127.00 in a research note on Friday, January 31st. Finally, BMO Capital Markets restated a “buy” rating and set a $115.00 price objective on shares of Camden Property Trust in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $118.33.

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.

See Also: How does the Beige Book influence monetary policy?

Receive News & Ratings for Camden Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Camden Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply