Eaton Vance Management lowered its position in shares of Camden Property Trust (NYSE:CPT) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,737 shares of the real estate investment trust’s stock after selling 369 shares during the quarter. Eaton Vance Management’s holdings in Camden Property Trust were worth $1,089,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CPT. Perigon Wealth Management LLC bought a new position in Camden Property Trust during the first quarter valued at about $110,000. Laurion Capital Management LP bought a new position in Camden Property Trust during the first quarter valued at about $201,000. Eqis Capital Management Inc. bought a new position in Camden Property Trust during the second quarter valued at about $201,000. Sawtooth Solutions LLC boosted its stake in Camden Property Trust by 2.7% during the second quarter. Sawtooth Solutions LLC now owns 2,701 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 72 shares in the last quarter. Finally, Visionary Asset Management Inc. bought a new position in Camden Property Trust during the second quarter valued at about $260,000. 95.47% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the company. Robert W. Baird raised their target price on Camden Property Trust from $92.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday. KeyCorp raised their target price on Camden Property Trust from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 15th. UBS AG reaffirmed a “sell” rating and set a $86.00 target price (up previously from $80.00) on shares of Camden Property Trust in a research note on Thursday, September 14th. BMO Capital Markets reaffirmed a “buy” rating and set a $95.00 target price on shares of Camden Property Trust in a research note on Friday, September 8th. Finally, Sandler O’Neill raised Camden Property Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $93.00 to $105.00 in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Camden Property Trust currently has a consensus rating of “Hold” and a consensus price target of $91.38.
In other Camden Property Trust news, COO H Malcolm Stewart sold 11,174 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $89.75, for a total value of $1,002,866.50. Following the completion of the transaction, the chief operating officer now directly owns 253,456 shares of the company’s stock, valued at $22,747,676. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP William W. Sengelmann sold 5,085 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total value of $458,412.75. Following the completion of the transaction, the executive vice president now directly owns 71,836 shares of the company’s stock, valued at $6,476,015.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,584 shares of company stock valued at $10,618,035. Insiders own 4.70% of the company’s stock.
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Shares of Camden Property Trust (CPT) opened at 93.00 on Friday. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $96.39. The company has a 50-day moving average price of $90.94 and a 200 day moving average price of $85.62. The stock has a market capitalization of $8.15 billion, a P/E ratio of 20.81 and a beta of 0.38.
Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The business had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $222.44 million. During the same period in the previous year, the firm earned $1.15 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. Analysts forecast that Camden Property Trust will post $1.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a yield of 3.23%. Camden Property Trust’s payout ratio is 67.11%.
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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