Balyasny Asset Management LLC Boosts Stake in Camden Property Trust (CPT)
Balyasny Asset Management LLC lifted its stake in shares of Camden Property Trust (NYSE:CPT) by 100.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 407,233 shares of the real estate investment trust’s stock after buying an additional 204,416 shares during the period. Balyasny Asset Management LLC owned approximately 0.46% of Camden Property Trust worth $34,822,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Perigon Wealth Management LLC acquired a new stake in shares of Camden Property Trust during the first quarter worth $110,000. Laurion Capital Management LP acquired a new stake in shares of Camden Property Trust during the first quarter worth $201,000. Eqis Capital Management Inc. acquired a new stake in shares of Camden Property Trust during the second quarter worth $201,000. Sawtooth Solutions LLC lifted its stake in shares of Camden Property Trust by 2.7% during the second quarter. Sawtooth Solutions LLC now owns 2,701 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 72 shares during the period. Finally, Stephens Inc. AR acquired a new stake in shares of Camden Property Trust during the second quarter worth $237,000. Institutional investors and hedge funds own 90.58% of the company’s stock.
In other Camden Property Trust news, COO H Malcolm Stewart sold 11,174 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $89.75, for a total transaction of $1,002,866.50. Following the completion of the transaction, the chief operating officer now owns 253,456 shares in the company, valued at approximately $22,747,676. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William W. Sengelmann sold 5,085 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $90.15, for a total transaction of $458,412.75. Following the transaction, the executive vice president now owns 71,836 shares of the company’s stock, valued at approximately $6,476,015.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,584 shares of company stock valued at $10,618,035. 4.70% of the stock is owned by insiders.
Several research analysts recently issued reports on the stock. BMO Capital Markets reissued a “buy” rating and set a $95.00 target price on shares of Camden Property Trust in a report on Friday, September 8th. KeyCorp raised their target price on shares of Camden Property Trust from $93.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, September 15th. Robert W. Baird reissued a “neutral” rating and set a $96.00 target price (up previously from $92.00) on shares of Camden Property Trust in a report on Friday, September 22nd. UBS AG reissued a “sell” rating and set a $86.00 target price (up previously from $80.00) on shares of Camden Property Trust in a report on Thursday, September 14th. Finally, Sandler O’Neill raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and raised their target price for the stock from $93.00 to $105.00 in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $91.38.
Camden Property Trust (NYSE:CPT) traded down 0.09% on Friday, reaching $91.45. 687,153 shares of the company’s stock were exchanged. The company has a market capitalization of $8.02 billion, a P/E ratio of 20.46 and a beta of 0.38. Camden Property Trust has a 1-year low of $75.36 and a 1-year high of $96.39. The firm has a 50-day moving average price of $90.94 and a 200-day moving average price of $85.62.
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, topping the Zacks’ consensus estimate of $1.13 by $0.02. The company had revenue of $222.40 million during the quarter, compared to the consensus estimate of $222.44 million. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. Camden Property Trust’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 EPS. Equities research analysts expect 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. Shareholders 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 dividend on an annualized basis and a yield of 3.28%. Camden Property Trust’s payout ratio is currently 67.11%.
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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