Foster & Motley Inc. boosted its stake in shares of Camden Property Trust (NYSE:CPT) by 17.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,334 shares of the real estate investment trust’s stock after acquiring an additional 5,892 shares during the period. Foster & Motley Inc.’s holdings in Camden Property Trust were worth $3,680,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in Camden Property Trust by 1,495.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,276 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 1,196 shares during the period. Redpoint Investment Management Pty Ltd bought a new position in shares of Camden Property Trust in the 2nd quarter valued at $206,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Camden Property Trust by 109.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,424 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 1,268 shares during the last quarter. First Mercantile Trust Co. bought a new position in shares of Camden Property Trust in the 2nd quarter valued at $225,000. Finally, IFM Investors Pty Ltd bought a new position in shares of Camden Property Trust in the 2nd quarter valued at $227,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.
NYSE CPT opened at $90.27 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 0.20. Camden Property Trust has a twelve month low of $78.19 and a twelve month high of $95.67. The firm has a market cap of $8.64 billion, a P/E ratio of 19.93, a PEG ratio of 3.11 and a beta of 0.28.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Investors of record on Friday, September 28th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Thursday, September 27th. Camden Property Trust’s dividend payout ratio (DPR) is 67.99%.
In related news, Chairman Richard J. Campo sold 80,588 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $93.79, for a total transaction of $7,558,348.52. Following the sale, the chairman now owns 291,383 shares of the company’s stock, valued at approximately $27,328,811.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alexander J. Jessett sold 9,674 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $94.61, for a total value of $915,257.14. Following the sale, the chief financial officer now directly owns 58,012 shares in the company, valued at approximately $5,488,515.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 245,731 shares of company stock worth $23,087,928. 4.70% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on CPT shares. Zacks Investment Research upgraded Camden Property Trust from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Tuesday, July 17th. Sandler O’Neill set a $105.00 price target on Camden Property Trust and gave the company a “buy” rating in a research note on Friday, August 3rd. Citigroup lifted their price target on Camden Property Trust from $91.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. SunTrust Banks lifted their price target on Camden Property Trust to $95.00 and gave the company an “average” rating in a research note on Tuesday, August 14th. They noted that the move was a valuation call. Finally, Royal Bank of Canada lifted their price target on Camden Property Trust to $97.00 and gave the company an “outperform” rating in a research note on Tuesday, August 14th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Camden Property Trust currently has an average rating of “Buy” and an average price target of $94.31.
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 158 properties containing 54,181 apartment homes across the United States.
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