Lasalle Investment Management Securities LLC decreased its position in shares of Camden Property Trust (NYSE:CPT) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,497,772 shares of the real estate investment trust’s stock after selling 488,954 shares during the period. Camden Property Trust accounts for about 3.8% of Lasalle Investment Management Securities LLC’s portfolio, making the stock its 8th largest position. Lasalle Investment Management Securities LLC owned 3.99% of Camden Property Trust worth $299,094,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in CPT. BlackRock Inc. raised its position in Camden Property Trust by 3,883.3% in the first quarter. BlackRock Inc. now owns 10,140,490 shares of the real estate investment trust’s stock worth $815,902,000 after buying an additional 9,885,917 shares in the last quarter. Morgan Stanley raised its position in Camden Property Trust by 35.4% in the first quarter. Morgan Stanley now owns 3,501,894 shares of the real estate investment trust’s stock worth $281,763,000 after buying an additional 915,901 shares in the last quarter. Prudential Financial Inc. raised its position in Camden Property Trust by 234.2% in the first quarter. Prudential Financial Inc. now owns 1,074,799 shares of the real estate investment trust’s stock worth $86,478,000 after buying an additional 753,214 shares in the last quarter. Vanguard Group Inc. raised its position in Camden Property Trust by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,104,790 shares of the real estate investment trust’s stock worth $1,134,871,000 after buying an additional 357,480 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Camden Property Trust by 51.7% in the second quarter. Russell Investments Group Ltd. now owns 774,012 shares of the real estate investment trust’s stock worth $66,224,000 after buying an additional 263,839 shares in the last quarter. 95.91% of the stock is currently owned by hedge funds and other institutional investors.
Camden Property Trust (NYSE CPT) opened at 90.22 on Monday. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $90.99. The firm has a 50-day moving average price of $88.49 and a 200 day moving average price of $84.47. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 20.18 and a beta of 0.37.
Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $222.40 million during the quarter, compared to analyst estimates of $222.44 million. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. Camden Property Trust’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. On average, equities research analysts forecast that Camden Property Trust will post $1.73 earnings per share for the current fiscal year.
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A number of research firms recently commented on CPT. Deutsche Bank AG lifted their price objective on Camden Property Trust from $84.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Royal Bank Of Canada lifted their price objective on Camden Property Trust from $91.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Barclays PLC lifted their price objective on Camden Property Trust from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. BidaskClub raised Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, KeyCorp raised Camden Property Trust from a “sector weight” rating to an “overweight” rating and set a $93.00 price objective on the stock in a research note on Tuesday, June 13th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $88.15.
In other news, President D Keith Oden sold 86,540 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $89.43, for a total transaction of $7,739,272.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William W. Sengelmann sold 763 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $89.76, for a total value of $68,486.88. Following the sale, the executive vice president now owns 71,836 shares of the company’s stock, valued at approximately $6,447,999.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,811 shares of company stock valued at $10,812,185. 4.70% of the stock is owned by company insiders.
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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