Due to the month’s market performance, short interest in Camden Property Trust (NYSE: CPT) experienced a sizeable drop in December. Compared to the 2,200,000 shares that were borrowed as of November 30, the number of shares that were borrowed as of December 15 was 1,830,000, a decrease of 16.8%. The days-to-cover ratio is calculated to be 2.0 days based on an average daily volume of 919,800 shares. This number was arrived at through calculation.
On Monday, the price of CPT was $111.88, despite having dropped by $1.06 throughout the weekend. There was a total trading volume of 18,253 shares of the company’s stock, which is significantly lower than the company’s typical trading volume of 967,529 shares. The company has a market capitalization that is currently sitting at $11.92 billion, a PE ratio that is currently sitting at 14.74, a P/E/G ratio that is currently sitting at 3.05, and a beta coefficient that is currently sitting at 0.74. During the past year, Camden Property Trust experienced a record low of $107.90 and a record high of $180.37. The stock’s moving average over the past 50 days comes in at $114.26, and the price’s moving average over the past 200 days comes in at $124.66. A few values can be used in this calculation, including a debt-to-equity ratio of 0.72, a current ratio of 0.24, and a quick ratio of 0.24.
Only recently did several research professionals publish the results of their investigations into the company. In a research report published on November 10, Mizuho gave Camden Property Trust a rating of “neutral,” indicating that they did not have a strong opinion either way. The price objective for Camden Property Trust was lowered from $136.00 to $119.00 in the report after it had previously been at $136.00. UBS Group published a research note on Thursday, December 15, announcing that it would begin covering shares of Camden Property Trust. The announcement was made in the research note. They recommend purchasing the stock with a price objective of $137.00 for the company. They have given this stock a “buy” rating. Camden Property Trust was assigned a grade of “c+” by TheStreet in a report made available to the public on November 28. This grade represents a reduction from the previous grade of “b.” In a report made public by Trust Financial on November 29, the “buy” rating and price objective that had previously been assigned to Camden Property Trust were both removed. The adjustment reduced the target price from $160.00 to $136.00.
Last but not least, in a research report released on Tuesday, November 1, Robert W. Baird decreased their price target on Camden Property Trust shares from $154.00 to $138.00 while maintaining an “outperform” rating on the stock. One of the analysts covering the company recommended the stock to sell, while three others gave it a rating of “hold,” and eight others gave it a rating of “buy.” Camden Property Trust is rated as a “Moderate Buy” right now by the investment analysts polled by Bloomberg.com, and their average price target for the company is $146.08.
In addition, the company has declared a quarterly dividend, which will be paid out on the seventeenth of this month. On Friday, December 16, shareholders recorded as having ownership of shares as of the record date will be eligible to receive a $0.94 dividend payment per share. The date shareholders will no longer receive dividends is Thursday, December 15. This results in a yearly dividend payment of $3.76 and an investment yield of 3.36 percent. Camden Property Trust’s dividend payout ratio (also known as DPR) currently stands at 49.54%.
There has recently been a lot of activity in the market from hedge funds and other institutional investors. They have been buying and selling shares of the company. Vanguard Group Inc. increased the amount of Camden Property Trust stock owned by 2.1% during the third quarter. There are currently 17,465,588 shares of the real estate investment trust owned by Vanguard Group Inc. These shares have a value of $2,086,264,000. This is because the company bought 351,965 shares during the most recent fiscal quarter. Cohen & Steers Inc. increased the amount of Camden Property Trust stock owned by 18.4% during the third quarter. After acquiring an additional 1,758,386 shares during the most recent quarter, Cohen & Steers Inc. now holds 11,319,751 shares of the real estate investment trust in their portfolio. The company’s holdings are currently estimated to have a market value of $1,352,022,000. State Street Corporation’s ownership percentage in Camden Property Trust went up by 12.5% during the second quarter due to the company’s investment. State Street Corp. now has 6,825,189 real estate investment trust shares due to purchasing an additional 758,674 shares during the preceding quarter. The value of State Street Corp.’s complete holdings in the real estate investment trust is currently $924,069,000. JPMorgan Chase & Co. increased the percentage of Camden Property Trust, which it holds a holding, by 20.8% during the second quarter of the fiscal year. After purchasing 762,939 shares during the most recent fiscal quarter, JPMorgan Chase & Co. now has 4,430,064 shares of the real estate investment trust in its possession. The total value of these shares is 595,754,000 dollars. During the second quarter, Price T. Rowe Associates Inc. (MD) increased the amount of Camden Property Trust stock owned by 1.9%, making this the last and most important point. Price T. Rowe Associates Inc. (MD) now has 2,131,129 real estate investment trust shares. These shares have a value of $286,594,000 after the company purchased an additional 40,037 shares during the most recent quarter. Institutional investors and hedge funds collectively own 93.25 percent of the company’s total shares, making up the majority of the shareholders.
As part of its real estate operations, Camden Property Trust is an S&P 400 company focusing primarily on the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Additionally, the company is involved in redevelopment projects. Camden is the owner and operator of a total of 167 buildings located across the United States. Together, these buildings contain a combined total of 56,850 residential units.
