Grassi Investment Management continued to hold its stake in shares of Camden Property Trust (NYSE:CPT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,600 shares of the real estate investment trust’s stock at the end of the first quarter. Grassi Investment Management’s holdings in Camden Property Trust were worth $692,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Creative Planning boosted its stake in shares of Camden Property Trust by 2.8% in the third quarter. Creative Planning now owns 2,584 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 71 shares during the period. Oakbrook Investments LLC boosted its stake in Camden Property Trust by 2.3% in the third quarter. Oakbrook Investments LLC now owns 4,408 shares of the real estate investment trust’s stock valued at $369,000 after buying an additional 100 shares during the last quarter. Henderson Group PLC boosted its stake in Camden Property Trust by 43.3% in the third quarter. Henderson Group PLC now owns 7,309 shares of the real estate investment trust’s stock valued at $612,000 after buying an additional 2,208 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new stake in Camden Property Trust during the third quarter valued at $5,979,000. Finally, Shell Asset Management Co. boosted its stake in Camden Property Trust by 7.0% in the third quarter. Shell Asset Management Co. now owns 112,975 shares of the real estate investment trust’s stock valued at $9,461,000 after buying an additional 7,370 shares during the last quarter.
Camden Property Trust (NYSE:CPT) traded down 0.61% during mid-day trading on Thursday, reaching $81.02. The company had a trading volume of 147,882 shares. The firm has a 50-day moving average price of $81.45 and a 200 day moving average price of $81.07. Camden Property Trust has a 12-month low of $75.36 and a 12-month high of $90.91. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 8.95 and a beta of 0.39.
Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Tuesday, February 7th. The real estate investment trust reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.01. Camden Property Trust had a net margin of 93.54% and a return on equity of 14.23%. The firm earned $217.14 million during the quarter, compared to the consensus estimate of $218.54 million. During the same period last year, the firm earned $1.20 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts expect that Camden Property Trust will post $1.83 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.68%. The ex-dividend date is Wednesday, March 29th. Camden Property Trust’s payout ratio is 33.19%.
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Several equities research analysts have weighed in on CPT shares. Goldman Sachs Group Inc upgraded Camden Property Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $84.00 to $94.00 in a research note on Friday, March 10th. Zacks Investment Research cut Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, February 1st. KeyCorp cut Camden Property Trust to an “overweight” rating in a research note on Wednesday, December 21st. Barclays PLC restated a “hold” rating and set a $84.00 target price on shares of Camden Property Trust in a research note on Friday, February 17th. Finally, Mitsubishi UFJ Financial Group upgraded Camden Property Trust from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $72.00 to $80.00 in a research note on Thursday, January 5th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $86.75.
In other Camden Property Trust news, EVP William W. Sengelmann sold 16,118 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $84.79, for a total value of $1,366,645.22. Following the completion of the transaction, the executive vice president now directly owns 72,294 shares of the company’s stock, valued at approximately $6,129,808.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director F Gardner Parker sold 741 shares of the firm’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $81.03, for a total transaction of $60,043.23. Following the completion of the transaction, the director now directly owns 12,074 shares of the company’s stock, valued at $978,356.22. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.
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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