Camden Property Trust (NYSE:CPT – Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,080,000 shares, a growth of 11.2% from the February 29th total of 2,770,000 shares. Based on an average daily volume of 1,140,000 shares, the days-to-cover ratio is presently 2.7 days.
Camden Property Trust Price Performance
Shares of CPT opened at $95.65 on Wednesday. The business has a 50-day moving average of $96.25 and a 200-day moving average of $95.00. Camden Property Trust has a 1 year low of $82.81 and a 1 year high of $114.04. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 3.68 and a beta of 0.83. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.88.
Camden Property Trust (NYSE:CPT – Get Free Report) last released its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.31. Camden Property Trust had a net margin of 26.15% and a return on equity of 8.07%. The firm had revenue of $387.59 million during the quarter, compared to analyst estimates of $387.33 million. During the same quarter last year, the business earned $1.74 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Camden Property Trust will post 6.75 earnings per share for the current year.
Camden Property Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, March 29th will be issued a $1.03 dividend. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $4.12 annualized dividend and a yield of 4.31%. Camden Property Trust’s payout ratio is presently 111.35%.
Analysts Set New Price Targets
Several analysts recently weighed in on CPT shares. The Goldman Sachs Group initiated coverage on Camden Property Trust in a research note on Thursday, February 22nd. They issued a “buy” rating and a $112.00 price objective on the stock. Barclays cut shares of Camden Property Trust from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $138.00 to $100.00 in a research report on Tuesday, February 20th. StockNews.com downgraded shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Piper Sandler reaffirmed an “underweight” rating and set a $90.00 target price on shares of Camden Property Trust in a research note on Tuesday, March 26th. Finally, Mizuho dropped their price target on Camden Property Trust from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Camden Property Trust has an average rating of “Hold” and a consensus price target of $104.24.
Check Out Our Latest Stock Analysis on CPT
Insider Buying and Selling
In other Camden Property Trust news, CEO Richard J. Campo sold 38,336 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $98.22, for a total value of $3,765,361.92. Following the transaction, the chief executive officer now directly owns 267,132 shares of the company’s stock, valued at approximately $26,237,705.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Camden Property Trust news, CFO Alexander J. Jessett sold 9,803 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $98.21, for a total transaction of $962,752.63. Following the completion of the sale, the chief financial officer now directly owns 114,893 shares in the company, valued at $11,283,641.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Campo sold 38,336 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $98.22, for a total value of $3,765,361.92. Following the completion of the sale, the chief executive officer now directly owns 267,132 shares in the company, valued at approximately $26,237,705.04. The disclosure for this sale can be found here. Insiders sold 55,957 shares of company stock valued at $5,495,920 over the last quarter. 1.90% of the stock is owned by company insiders.
Institutional Trading of Camden Property Trust
Large investors have recently bought and sold shares of the business. Bessemer Group Inc. boosted its position in shares of Camden Property Trust by 57.0% during the 4th quarter. Bessemer Group Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 94 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Camden Property Trust by 60.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 381 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 144 shares in the last quarter. Tobam boosted its holdings in shares of Camden Property Trust by 4,166.7% during the 4th quarter. Tobam now owns 384 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 375 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new stake in shares of Camden Property Trust during the 4th quarter worth approximately $45,000. Finally, Belpointe Asset Management LLC increased its stake in shares of Camden Property Trust by 175.5% in the 1st quarter. Belpointe Asset Management LLC now owns 449 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 286 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.
Camden Property Trust Company Profile
Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,634 apartment homes across the United States.
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