Camden Property Trust (CPT) Receives Consensus Rating of “Buy” from Analysts
Camden Property Trust (NYSE:CPT) has been assigned an average rating of “Buy” from the sixteen ratings firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $94.31.
A number of research firms have issued reports on CPT. SunTrust Banks lifted their target price on shares of 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. Citigroup lifted their target price on shares of Camden Property Trust from $91.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. Royal Bank of Canada lifted their target price on shares of Camden Property Trust to $97.00 and gave the company an “outperform” rating in a research note on Tuesday, August 14th. TheStreet upgraded shares of Camden Property Trust from a “c+” rating to a “b-” rating in a research note on Thursday, May 31st. Finally, Zacks Investment Research cut shares of Camden Property Trust from a “buy” rating to a “hold” rating in a research note on Friday, July 20th.
CPT traded down $0.76 on Tuesday, reaching $94.30. 533,700 shares of the company traded hands, compared to its average volume of 544,329. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $8.82 billion, a PE ratio of 20.91, a PEG ratio of 3.19 and a beta of 0.27. Camden Property Trust has a 52-week low of $78.19 and a 52-week high of $96.39.
In other news, CFO Alexander J. Jessett sold 9,674 shares of the business’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 completion of the sale, the chief financial officer now directly owns 58,012 shares in the company, valued at $5,488,515.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard J. Campo sold 80,588 shares of the business’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 completion of the sale, the chairman now owns 291,383 shares of the company’s stock, valued at $27,328,811.57. The disclosure for this sale can be found here. Insiders sold 245,731 shares of company stock valued at $23,087,928 over the last 90 days. 3.90% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of CPT. Parallel Advisors LLC raised 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 valued at $116,000 after purchasing an additional 1,196 shares during the last quarter. Redpoint Investment Management Pty Ltd acquired a new position in Camden Property Trust during the 2nd quarter valued at $206,000. Gideon Capital Advisors Inc. acquired a new position in Camden Property Trust during the 1st quarter valued at $213,000. Quantbot Technologies LP acquired a new position in Camden Property Trust during the 1st quarter valued at $216,000. Finally, First Mercantile Trust Co. acquired a new position in Camden Property Trust during the 2nd quarter valued at $225,000. Institutional investors and hedge funds own 93.91% of the company’s stock.
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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