Highbridge Capital Management LLC purchased a new stake in shares of Camden Property Trust (NYSE:CPT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 37,500 shares of the real estate investment trust’s stock, valued at approximately $3,017,000.
A number of other hedge funds have also bought and sold shares of CPT. Assetmark Inc. raised its stake in Camden Property Trust by 478.5% in the first quarter. Assetmark Inc. now owns 1,695 shares of the real estate investment trust’s stock worth $136,000 after buying an additional 1,402 shares in the last quarter. Founders Capital Management purchased a new stake in Camden Property Trust during the first quarter worth $140,000. Mn Services Vermogensbeheer B.V. raised its stake in Camden Property Trust by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,333 shares of the real estate investment trust’s stock worth $176,000 after buying an additional 120 shares in the last quarter. Laurion Capital Management LP purchased a new stake in Camden Property Trust during the first quarter worth $201,000. Finally, Creative Planning raised its stake in Camden Property Trust by 3.1% in the first quarter. Creative Planning now owns 2,638 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 91.61% of the company’s stock.
Shares of Camden Property Trust (CPT) opened at 86.80 on Wednesday. The company has a market cap of $7.61 billion, a P/E ratio of 9.68 and a beta of 0.37. The company’s 50 day moving average is $85.11 and its 200 day moving average is $82.92. Camden Property Trust has a 12 month low of $75.36 and a 12 month high of $90.83.
Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, May 4th. The real estate investment trust reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by $0.01. The business had revenue of $219.50 million during the quarter, compared to analyst estimates of $218.19 million. Camden Property Trust had a net margin of 92.55% and a return on equity of 13.94%. The business’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 earnings per share. On average, equities research analysts predict that Camden Property Trust will post $1.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $0.75 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $3.00 annualized dividend and a yield of 3.46%. Camden Property Trust’s dividend payout ratio is currently 33.48%.
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Several analysts have commented on the stock. Barclays PLC raised their price objective on shares of Camden Property Trust from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank Of Canada restated a “buy” rating and issued a $91.00 price objective on shares of Camden Property Trust in a report on Sunday. BidaskClub upgraded shares of Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. KeyCorp upgraded shares of Camden Property Trust from a “sector weight” rating to an “overweight” rating and set a $93.00 price objective for the company in a report on Tuesday, June 13th. They noted that the move was a valuation call. Finally, BMO Capital Markets upgraded shares of Camden Property Trust from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $81.00 to $89.00 in a report on Thursday, May 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $88.43.
In other Camden Property Trust news, Director William F. Paulsen sold 2,227 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $87.18, for a total value of $194,149.86. Following the transaction, the director now directly owns 14,284 shares of the company’s stock, valued at approximately $1,245,279.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.70% of the company’s stock.
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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