TheStreet Downgrades Camden Property Trust (CPT) to C+
A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut Camden Property Trust from a hold rating to a sell rating in a research report on Wednesday, January 10th. Robert W. Baird reissued a hold rating and issued a $93.00 target price on shares of Camden Property Trust in a research report on Tuesday, January 9th. JPMorgan Chase & Co. raised Camden Property Trust from a neutral rating to an overweight rating and set a $100.00 price objective for the company in a research report on Friday, December 15th. BMO Capital Markets reaffirmed a buy rating and set a $97.00 price objective on shares of Camden Property Trust in a research report on Monday, November 27th. Finally, Mizuho reaffirmed a hold rating and set a $94.00 price objective on shares of Camden Property Trust in a research report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $93.67.
Shares of Camden Property Trust (CPT) traded up $0.10 during midday trading on Thursday, hitting $84.81. The company had a trading volume of 333,700 shares, compared to its average volume of 490,200. The firm has a market cap of $7,859.78, a PE ratio of 51.71, a PEG ratio of 3.28 and a beta of 0.42. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.64. Camden Property Trust has a 1 year low of $78.38 and a 1 year high of $96.39.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Friday, December 15th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.54%. Camden Property Trust’s dividend payout ratio is currently 182.93%.
In related news, EVP William W. Sengelmann sold 4,478 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $88.42, for a total value of $395,944.76. Following the completion of the transaction, the executive vice president now directly owns 66,567 shares of the company’s stock, valued at approximately $5,885,854.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard J. Campo sold 379 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $94.44, for a total value of $35,792.76. Following the completion of the transaction, the chairman now directly owns 338,519 shares of the company’s stock, valued at $31,969,734.36. The disclosure for this sale can be found here. Insiders sold a total of 126,297 shares of company stock valued at $11,635,108 over the last three months. Insiders own 4.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPT. YorkBridge Wealth Partners LLC increased its stake in Camden Property Trust by 6.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 67 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Camden Property Trust in the 3rd quarter valued at approximately $110,000. Perigon Wealth Management LLC increased its stake in Camden Property Trust by 59.3% in the 2nd quarter. Perigon Wealth Management LLC now owns 2,150 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 800 shares in the last quarter. Bbva Compass Bancshares Inc. purchased a new position in Camden Property Trust in the 3rd quarter valued at approximately $234,000. Finally, Koch Industries Inc. purchased a new position in Camden Property Trust in the 2nd quarter valued at approximately $236,000. 96.89% of the stock is owned by hedge funds and other institutional investors.
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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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