Bank of New York Mellon Corp reduced its position in shares of Camden Property Trust (NYSE:CPT) by 47.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,205,105 shares of the real estate investment trust’s stock after selling 1,074,512 shares during the period. Bank of New York Mellon Corp owned approximately 1.38% of Camden Property Trust worth $96,961,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Security Capital Research & Management Inc. increased its position in Camden Property Trust by 9.8% in the third quarter. Security Capital Research & Management Inc. now owns 1,675 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 150 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of Camden Property Trust by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,333 shares of the real estate investment trust’s stock valued at $176,000 after buying an additional 120 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new stake in shares of Camden Property Trust during the third quarter valued at approximately $209,000. FNY Partners Fund LP acquired a new stake in shares of Camden Property Trust during the fourth quarter valued at approximately $210,000. Finally, Creative Planning increased its stake in shares of Camden Property Trust by 3.1% in the first quarter. Creative Planning now owns 2,638 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 80 shares during the last quarter. 91.61% of the stock is currently owned by institutional investors.
Shares of Camden Property Trust (CPT) traded up 0.67% on Friday, reaching $88.94. 854,405 shares of the company were exchanged. The firm has a 50 day moving average price of $83.72 and a 200-day moving average price of $82.36. Camden Property Trust has a 12-month low of $75.36 and a 12-month high of $90.91. The stock has a market capitalization of $7.79 billion, a PE ratio of 9.92 and a beta of 0.39.
Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, May 4th. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by $0.01. The business had revenue of $219.50 million for the quarter, compared to the consensus estimate of $218.19 million. Camden Property Trust had a net margin of 92.55% and a return on equity of 13.94%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. On average, analysts predict that Camden Property Trust will post $1.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a dividend of $0.75 per share. The ex-dividend date is Wednesday, June 28th. This represents a $3.00 annualized dividend and a yield of 3.37%. Camden Property Trust’s dividend payout ratio (DPR) is 33.48%.
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Several brokerages recently commented on CPT. Goldman Sachs Group, Inc. (The) raised Camden Property Trust from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $84.00 to $94.00 in a research note on Friday, March 10th. Zacks Investment Research cut Camden Property Trust from a “hold” rating to a “sell” rating in a report on Thursday, February 16th. BTIG Research upgraded Camden Property Trust from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a report on Monday, April 24th. BMO Capital Markets upgraded Camden Property Trust from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $89.00 in a report on Thursday, May 25th. They noted that the move was a valuation call. Finally, Evercore ISI upgraded Camden Property Trust from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $87.00 to $90.00 in a report on Thursday, May 18th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Camden Property Trust presently has a consensus rating of “Hold” and an average target price of $88.50.
In other Camden Property Trust news, Director F Gardner Parker sold 741 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $81.03, for a total value of $60,043.23. Following the completion of the transaction, the director now directly owns 12,074 shares in the company, valued at $978,356.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William F. Paulsen sold 2,227 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $87.18, for a total transaction of $194,149.86. Following the completion of the transaction, the director now owns 14,284 shares of the company’s stock, valued at $1,245,279.12. The disclosure for this sale can be found here. Insiders own 4.70% 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.
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