Securian Asset Management Inc decreased its holdings in Camden Property Trust (NYSE:CPT) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 224,366 shares of the real estate investment trust’s stock after selling 6,447 shares during the quarter. Securian Asset Management Inc owned 0.23% of Camden Property Trust worth $23,421,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new position in Camden Property Trust in the 2nd quarter valued at about $26,000. Icon Wealth Partners LLC bought a new position in Camden Property Trust in the 1st quarter valued at about $52,000. Penserra Capital Management LLC bought a new position in Camden Property Trust in the 1st quarter valued at about $58,000. Machina Capital S.A.S. bought a new position in Camden Property Trust in the 2nd quarter valued at about $62,000. Finally, NEXT Financial Group Inc lifted its position in Camden Property Trust by 15.4% in the 2nd quarter. NEXT Financial Group Inc now owns 898 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 120 shares in the last quarter. 93.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Camden Property Trust stock traded up $0.16 during mid-day trading on Tuesday, hitting $107.27. 7,291 shares of the stock were exchanged, compared to its average volume of 539,106. The company has a 50-day simple moving average of $106.37 and a 200 day simple moving average of $102.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.94 and a current ratio of 0.94. Camden Property Trust has a 12 month low of $83.67 and a 12 month high of $110.42. The company has a market capitalization of $10.28 billion, a P/E ratio of 22.49, a P/E/G ratio of 3.05 and a beta of 0.45.
Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.84). Camden Property Trust had a return on equity of 4.48% and a net margin of 16.05%. The company had revenue of $255.76 million for the quarter, compared to analysts’ expectations of $252.76 million. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts predict that Camden Property Trust will post 5.08 EPS for the current year.
In related news, President D Keith Oden sold 37,500 shares of Camden Property Trust stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $105.44, for a total value of $3,954,000.00. Following the completion of the transaction, the president now directly owns 291,083 shares in the company, valued at approximately $30,691,791.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO H Malcolm Stewart sold 16,200 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $107.17, for a total transaction of $1,736,154.00. Following the completion of the transaction, the chief operating officer now owns 149,537 shares of the company’s stock, valued at $16,025,880.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,679 shares of company stock valued at $12,215,407. 3.40% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on CPT. Zacks Investment Research cut shares of Camden Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Citigroup lifted their target price on shares of Camden Property Trust from $100.00 to $109.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. DA Davidson cut shares of Camden Property Trust from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 23rd. Zelman & Associates raised shares of Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, KeyCorp lifted their target price on shares of Camden Property Trust from $105.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $102.85.
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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