Camden Property Trust (NYSE:CPT) Short Interest Update

Camden Property Trust (NYSE:CPT) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 2,000,000 shares, a growth of 12.4% from the September 30th total of 1,780,000 shares. Based on an average trading volume of 1,020,000 shares, the days-to-cover ratio is currently 2.0 days.

Camden Property Trust Trading Down 1.3 %

Shares of NYSE:CPT traded down $1.57 during midday trading on Thursday, hitting $115.79. The company had a trading volume of 1,842,992 shares, compared to its average volume of 985,555. Camden Property Trust has a 12 month low of $82.89 and a 12 month high of $127.69. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.72. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 4.51 and a beta of 0.90. The firm has a fifty day simple moving average of $122.31 and a 200 day simple moving average of $113.10.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. The company had revenue of $387.15 million during the quarter, compared to the consensus estimate of $384.76 million. During the same quarter in the prior year, the business earned $1.70 earnings per share. On average, analysts predict that Camden Property Trust will post 6.77 EPS for the current year.

Camden Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were issued a dividend of $1.03 per share. The ex-dividend date was Monday, September 30th. This represents a $4.12 annualized dividend and a yield of 3.56%. Camden Property Trust’s dividend payout ratio is presently 113.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPT. Centersquare Investment Management LLC lifted its holdings in Camden Property Trust by 64.2% during the first quarter. Centersquare Investment Management LLC now owns 2,296,741 shares of the real estate investment trust’s stock worth $228,939,000 after acquiring an additional 898,398 shares in the last quarter. Duquesne Family Office LLC bought a new position in Camden Property Trust during the second quarter worth about $63,056,000. Robeco Institutional Asset Management B.V. lifted its holdings in Camden Property Trust by 4,254.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 341,810 shares of the real estate investment trust’s stock worth $42,224,000 after acquiring an additional 333,961 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Camden Property Trust by 1.7% during the first quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock worth $1,701,521,000 after acquiring an additional 289,425 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Camden Property Trust by 690.1% during the second quarter. American Century Companies Inc. now owns 248,533 shares of the real estate investment trust’s stock worth $27,117,000 after acquiring an additional 217,076 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CPT shares. Royal Bank of Canada downgraded Camden Property Trust from an “outperform” rating to a “sector perform” rating and set a $122.00 price objective for the company. in a research report on Monday, September 9th. Jefferies Financial Group started coverage on Camden Property Trust in a research report on Friday, October 11th. They issued a “hold” rating and a $123.00 price objective for the company. Bank of America upgraded Camden Property Trust from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $111.00 to $147.00 in a research report on Monday, August 12th. BNP Paribas started coverage on Camden Property Trust in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $129.00 price objective for the company. Finally, UBS Group raised their target price on Camden Property Trust from $109.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $121.76.

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.