Prudential Financial Inc. reduced its position in shares of Camden Property Trust (NYSE:CPT) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 860,650 shares of the real estate investment trust’s stock after selling 41,156 shares during the quarter. Prudential Financial Inc. owned 0.92% of Camden Property Trust worth $75,781,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Lavaca Capital LLC purchased a new position in shares of Camden Property Trust during the 4th quarter valued at $27,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Camden Property Trust by 8,705.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,206,341 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 3,169,926 shares in the last quarter. First Interstate Bank purchased a new position in shares of Camden Property Trust during the 4th quarter valued at $47,000. We Are One Seven LLC bought a new stake in Camden Property Trust in the fourth quarter worth $62,000. Finally, Exane Derivatives bought a new stake in Camden Property Trust in the fourth quarter worth $194,000. 92.15% of the stock is currently owned by institutional investors.
In other news, Director William F. Paulsen sold 2,890 shares of the company’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $97.17, for a total transaction of $280,821.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Paulsen sold 11,344 shares of the company’s stock in a transaction dated Friday, December 21st. The shares were sold at an average price of $89.38, for a total transaction of $1,013,926.72. Following the transaction, the director now directly owns 2,890 shares of the company’s stock, valued at approximately $258,308.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,708 shares of company stock valued at $9,865,852. Company insiders own 3.90% of the company’s stock.
Camden Property Trust stock traded up $0.71 on Thursday, reaching $97.21. 23,260 shares of the stock were exchanged, compared to its average volume of 522,613. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 3.13 and a beta of 0.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.33 and a quick ratio of 0.20. Camden Property Trust has a twelve month low of $78.19 and a twelve month high of $99.96.
Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, January 31st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.81). The firm had revenue of $244.92 million for the quarter, compared to analyst estimates of $243.35 million. Camden Property Trust had a return on equity of 4.56% and a net margin of 16.36%. As a group, sell-side analysts expect that Camden Property Trust will post 5.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th will be given a dividend of $0.80 per share. This is a positive change from Camden Property Trust’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.20 dividend on an annualized basis and a yield of 3.29%. Camden Property Trust’s payout ratio is currently 64.57%.
CPT has been the subject of a number of recent research reports. Citigroup upped their price objective on shares of Camden Property Trust from $95.00 to $96.00 and gave the stock a “hold” rating in a report on Tuesday, October 30th. Janney Montgomery Scott upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Wednesday, December 19th. Wells Fargo & Co set a $99.00 price objective on shares of Camden Property Trust and gave the stock a “hold” rating in a report on Tuesday, November 6th. ValuEngine upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research cut shares of Camden Property Trust from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Camden Property Trust presently has an average rating of “Buy” and an average price target of $98.18.
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About Camden Property Trust
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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