Camden Property Trust (NYSE:CPT) was upgraded by equities researchers at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a report issued on Friday, Marketbeat reports. The firm presently has a $100.00 target price on the real estate investment trust’s stock. J P Morgan Chase & Co’s price target would suggest a potential upside of 8.80% from the company’s previous close.
A number of other brokerages have also recently issued reports on CPT. BMO Capital Markets reaffirmed a “buy” rating and issued a $95.00 target price on shares of Camden Property Trust in a report on Friday, September 8th. Mizuho reissued a “hold” rating and issued a $90.00 price target on shares of Camden Property Trust in a report on Sunday, October 15th. KeyCorp increased their price target on shares of Camden Property Trust from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 15th. Robert W. Baird reissued a “neutral” rating and issued a $96.00 price target (up from $92.00) on shares of Camden Property Trust in a report on Friday, September 22nd. Finally, UBS reissued a “sell” rating and issued a $86.00 price target (up from $80.00) on shares of Camden Property Trust in a report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Camden Property Trust currently has a consensus rating of “Hold” and an average price target of $93.00.
Shares of Camden Property Trust (NYSE:CPT) traded up $0.06 during mid-day trading on Friday, hitting $91.91. 868,500 shares of the stock were exchanged, compared to its average volume of 608,635. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.94 and a current ratio of 1.94. The company has a market cap of $8,520.00, a PE ratio of 20.58, a price-to-earnings-growth ratio of 3.78 and a beta of 0.41. Camden Property Trust has a 12 month low of $78.38 and a 12 month high of $96.39.
In related news, President D Keith Oden sold 13,086 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $92.25, for a total transaction of $1,207,183.50. Following the sale, the president now owns 364,771 shares in the company, valued at approximately $33,650,124.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard J. Campo sold 52,247 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $92.27, for a total transaction of $4,820,830.69. Following the sale, the chairman now owns 344,201 shares in the company, valued at approximately $31,759,426.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,394 shares of company stock worth $11,201,585. Company insiders own 4.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Camden Property Trust by 20.3% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 28,377 shares of the real estate investment trust’s stock worth $2,427,000 after acquiring an additional 4,788 shares in the last quarter. BlackRock Inc. boosted its position in shares of Camden Property Trust by 3.1% during the 2nd quarter. BlackRock Inc. now owns 10,451,376 shares of the real estate investment trust’s stock worth $893,697,000 after acquiring an additional 310,886 shares in the last quarter. PGGM Investments boosted its position in shares of Camden Property Trust by 2.0% during the 3rd quarter. PGGM Investments now owns 816,511 shares of the real estate investment trust’s stock worth $74,670,000 after acquiring an additional 16,000 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Camden Property Trust by 5.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 81,383 shares of the real estate investment trust’s stock worth $7,442,000 after acquiring an additional 4,539 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Camden Property Trust by 79.4% during the 3rd quarter. Retirement Systems of Alabama now owns 202,680 shares of the real estate investment trust’s stock worth $18,535,000 after acquiring an additional 89,696 shares in the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.
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.
