Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Camden Property Trust (NYSE:CPT) by 15.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,008 shares of the real estate investment trust’s stock after purchasing an additional 4,265 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Camden Property Trust were worth $2,651,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of CPT. BlackRock Inc. grew its position in shares of Camden Property Trust by 3,883.3% during the 1st quarter. BlackRock Inc. now owns 10,140,490 shares of the real estate investment trust’s stock valued at $815,902,000 after acquiring an additional 9,885,917 shares during the period. Morgan Stanley lifted its stake in shares of Camden Property Trust by 35.4% during the 1st quarter. Morgan Stanley now owns 3,501,894 shares of the real estate investment trust’s stock valued at $281,763,000 after buying an additional 915,901 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Camden Property Trust by 234.2% during the 1st quarter. Prudential Financial Inc. now owns 1,074,799 shares of the real estate investment trust’s stock valued at $86,478,000 after buying an additional 753,214 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Camden Property Trust by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,104,790 shares of the real estate investment trust’s stock valued at $1,134,871,000 after buying an additional 357,480 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Camden Property Trust by 51.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 774,012 shares of the real estate investment trust’s stock worth $66,224,000 after purchasing an additional 263,839 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.
In other news, President D Keith Oden sold 86,540 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William W. Sengelmann sold 763 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $89.76, for a total value of $68,486.88. Following the transaction, the executive vice president now directly owns 71,836 shares in the company, valued at approximately $6,447,999.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,584 shares of company stock valued at $10,618,035. 4.70% of the stock is owned by company insiders.
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Several research firms have issued reports on CPT. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 target price on shares of Camden Property Trust in a research note on Friday, September 8th. Royal Bank Of Canada increased their target price on shares of Camden Property Trust from $91.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Sandler O’Neill raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and increased their price target for the stock from $93.00 to $105.00 in a report on Tuesday, September 5th. Deutsche Bank AG increased their price target on shares of Camden Property Trust from $84.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Finally, Barclays PLC increased their price target on shares of Camden Property Trust from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $90.40.
Camden Property Trust (NYSE:CPT) traded down 0.45% during midday trading on Wednesday, hitting $93.55. 172,305 shares of the stock traded hands. The firm’s 50-day moving average is $90.02 and its 200-day moving average is $85.18. Camden Property Trust has a 52-week low of $75.36 and a 52-week high of $96.39. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 20.93 and a beta of 0.38.
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 the consensus estimate of $1.13 by $0.02. The firm had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $222.44 million. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 earnings per share. Analysts predict that Camden Property Trust will post $1.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, September 28th. Camden Property Trust’s payout ratio is 67.11%.
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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