3,999 Shares in Camden Property Trust (CPT) Purchased by Old Mutual Global Investors UK Ltd.
Old Mutual Global Investors UK Ltd. bought a new stake in Camden Property Trust (NYSE:CPT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,999 shares of the real estate investment trust’s stock, valued at approximately $341,000.
Other institutional investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC bought a new position in Camden Property Trust in the first quarter valued at about $110,000. Assetmark Inc. grew its position in Camden Property Trust by 478.5% in the first quarter. Assetmark Inc. now owns 1,695 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 1,402 shares during the last quarter. Founders Capital Management bought a new position in Camden Property Trust in the first quarter valued at about $140,000. Eqis Capital Management Inc. bought a new position in Camden Property Trust in the second quarter valued at about $201,000. Finally, Laurion Capital Management LP bought a new position in Camden Property Trust in the first quarter valued at about $201,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.
Shares of Camden Property Trust (CPT) opened at 94.92 on Tuesday. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 21.23 and a beta of 0.38. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $96.39. The stock’s 50 day moving average price is $89.88 and its 200-day moving average price is $85.11.
Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $222.40 million for the quarter, compared to analyst estimates of $222.44 million. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 EPS. Equities analysts predict that Camden Property Trust will post $1.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.00 annualized dividend and a dividend yield of 3.16%. Camden Property Trust’s dividend payout ratio (DPR) is presently 67.11%.
In other news, COO H Malcolm Stewart sold 11,174 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $89.75, for a total transaction of $1,002,866.50. Following the transaction, the chief operating officer now directly owns 253,456 shares in the company, valued at approximately $22,747,676. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William W. Sengelmann sold 5,085 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total value of $458,412.75. Following the transaction, 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 have sold a total of 118,584 shares of company stock worth $10,618,035 over the last quarter. Corporate insiders own 4.70% of the company’s stock.
CPT has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their target price on Camden Property Trust from $91.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. BidaskClub upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Sandler O’Neill upgraded Camden Property Trust from a “hold” rating to a “buy” rating and lifted their target price for the company from $93.00 to $105.00 in a research report on Tuesday, September 5th. Stifel Nicolaus initiated coverage on Camden Property Trust in a research report on Friday, September 1st. They issued a “buy” rating and a $99.00 target price on the stock. Finally, Deutsche Bank AG lifted their target price on Camden Property Trust from $84.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $90.40.
Camden Property Trust 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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