Northwestern Mutual Investment Management Company LLC trimmed its position in Camden Property Trust (NYSE:CPT) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,192 shares of the real estate investment trust’s stock after selling 413 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Camden Property Trust were worth $1,745,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Timbercreek Investment Management Inc. raised its holdings in shares of Camden Property Trust by 1.6% in the 1st quarter. Timbercreek Investment Management Inc. now owns 64,664 shares of the real estate investment trust’s stock worth $6,563,000 after purchasing an additional 1,000 shares during the period. CI Investments Inc. purchased a new position in shares of Camden Property Trust in the 4th quarter worth about $12,458,000. Perpetual Ltd raised its holdings in shares of Camden Property Trust by 156.1% in the 4th quarter. Perpetual Ltd now owns 42,000 shares of the real estate investment trust’s stock worth $3,667,000 after purchasing an additional 25,600 shares during the period. Exane Derivatives purchased a new position in shares of Camden Property Trust in the 4th quarter worth about $194,000. Finally, Bahl & Gaynor Inc. raised its holdings in shares of Camden Property Trust by 7.6% in the 4th quarter. Bahl & Gaynor Inc. now owns 124,201 shares of the real estate investment trust’s stock worth $10,936,000 after purchasing an additional 8,761 shares during the period. Institutional investors own 93.17% of the company’s stock.
A number of equities analysts have recently commented on the company. SunTrust Banks raised their price objective on Camden Property Trust to $108.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Zacks Investment Research upgraded Camden Property Trust from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research note on Monday. Barclays reiterated a “buy” rating and issued a $108.00 target price on shares of Camden Property Trust in a research note on Tuesday, April 16th. Sandler O’Neill lowered Camden Property Trust from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Finally, KeyCorp increased their target price on Camden Property Trust from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $101.53.
NYSE CPT traded down $1.54 during mid-day trading on Wednesday, reaching $104.27. 615,188 shares of the company’s stock traded hands, compared to its average volume of 520,177. Camden Property Trust has a 1-year low of $83.67 and a 1-year high of $108.22. The firm’s fifty day simple moving average is $104.02. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $10.24 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 3.17 and a beta of 0.47.
Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.22. Camden Property Trust had a return on equity of 4.45% and a net margin of 15.98%. The firm had revenue of $248.57 million during the quarter, compared to analyst estimates of $246.50 million. During the same quarter last year, the firm earned $1.15 EPS. Camden Property Trust’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Camden Property Trust will post 5.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date is Thursday, June 27th. This represents a $3.20 annualized dividend and a dividend yield of 3.07%. Camden Property Trust’s payout ratio is 67.09%.
In other news, Director William F. Paulsen sold 1,979 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $102.19, for a total value of $202,234.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard J. Campo sold 60,000 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $105.32, for a total value of $6,319,200.00. Following the completion of the transaction, the chairman now owns 273,948 shares of the company’s stock, valued at approximately $28,852,203.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,679 shares of company stock valued at $12,211,588. Insiders own 3.40% of the company’s stock.
Camden Property Trust Company Profile
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.
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