Camden Property Trust (CPT) Shares Bought by Legal & General Group Plc
Legal & General Group Plc increased its holdings in shares of Camden Property Trust (NYSE:CPT) by 14.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 413,742 shares of the real estate investment trust’s stock after purchasing an additional 51,580 shares during the period. Legal & General Group Plc owned approximately 0.45% of Camden Property Trust worth $37,836,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of CPT. Bank of New York Mellon Corp raised its holdings in Camden Property Trust by 93.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,365,047 shares of the real estate investment trust’s stock valued at $216,282,000 after acquiring an additional 1,144,162 shares in the last quarter. American Century Companies Inc. acquired a new position in Camden Property Trust in the 3rd quarter valued at approximately $65,671,000. Goldman Sachs Group Inc. raised its holdings in Camden Property Trust by 32.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,312,251 shares of the real estate investment trust’s stock valued at $112,211,000 after acquiring an additional 318,689 shares in the last quarter. BlackRock Inc. raised its holdings in Camden Property Trust by 3.1% in the 2nd quarter. BlackRock Inc. now owns 10,451,376 shares of the real estate investment trust’s stock valued at $893,697,000 after acquiring an additional 310,886 shares in the last quarter. Finally, Koch Industries Inc. acquired a new position in Camden Property Trust in the 2nd quarter valued at approximately $236,000. 97.19% of the stock is owned by institutional investors and hedge funds.
CPT has been the subject of several recent research reports. Sandler O’Neill raised Camden Property Trust from a “hold” rating to a “buy” rating and upped their price target for the company from $93.00 to $105.00 in a report on Tuesday, September 5th. UBS reaffirmed a “sell” rating and issued a $86.00 price target (up previously from $80.00) on shares of Camden Property Trust in a report on Thursday, September 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $95.00 price target on shares of Camden Property Trust in a report on Friday, September 8th. Stifel Nicolaus initiated coverage on Camden Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $99.00 price target for the company. Finally, KeyCorp upped their price target on Camden Property Trust from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $92.53.
Camden Property Trust (NYSE:CPT) opened at $91.94 on Friday. Camden Property Trust has a twelve month low of $77.54 and a twelve month high of $96.39. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $8,474.21, a P/E ratio of 20.32, a PEG ratio of 3.73 and a beta of 0.41.
Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, October 26th. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.03). Camden Property Trust had a return on equity of 4.71% and a net margin of 16.81%. The company had revenue of $228.18 million during the quarter, compared to analyst estimates of $226.41 million. During the same period in the previous year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. research analysts predict that Camden Property Trust will post 4.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 15th will be issued a $0.75 dividend. The ex-dividend date is Thursday, December 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.26%. Camden Property Trust’s payout ratio is presently 182.93%.
Camden Property Trust Company 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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