Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 2,131 Shares of Camden Property Trust (CPT)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its position in shares of Camden Property Trust (NYSE:CPT) by 7.7% during the second quarter, Holdings Channel reports. The fund owned 25,716 shares of the real estate investment trust’s stock after selling 2,131 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Camden Property Trust were worth $2,199,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of CPT. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Camden Property Trust by 1.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,743 shares of the real estate investment trust’s stock worth $2,152,000 after buying an additional 446 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Camden Property Trust by 9.2% in the first quarter. Goldman Sachs Group Inc. now owns 993,562 shares of the real estate investment trust’s stock worth $79,942,000 after buying an additional 83,759 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Camden Property Trust by 0.6% in the second quarter. Fisher Asset Management LLC now owns 31,204 shares of the real estate investment trust’s stock worth $2,668,000 after buying an additional 192 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Camden Property Trust by 31.8% in the first quarter. Russell Investments Group Ltd. now owns 510,173 shares of the real estate investment trust’s stock worth $41,047,000 after buying an additional 123,027 shares during the last quarter. Finally, Ranger Global Real Estate Advisors LLC acquired a new stake in shares of Camden Property Trust during the first quarter worth about $3,557,000. 94.78% of the stock is owned by hedge funds and other institutional investors.
Shares of Camden Property Trust (CPT) opened at 89.48 on Wednesday. The firm has a 50-day moving average of $87.76 and a 200 day moving average of $84.12. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $90.83. The stock has a market cap of $7.84 billion, a PE ratio of 20.02 and a beta of 0.37.
Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.02. The company had revenue of $222.40 million for the quarter, compared to analyst estimates of $222.44 million. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business earned $1.15 earnings per share. On average, equities analysts forecast that Camden Property Trust will post $1.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.35%. The ex-dividend date was Wednesday, June 28th. Camden Property Trust’s payout ratio is 67.11%.
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A number of research analysts recently weighed in on CPT shares. BMO Capital Markets set a $81.00 target price on shares of Camden Property Trust and gave the company a “hold” rating in a research note on Thursday, May 4th. Royal Bank Of Canada restated a “buy” rating and set a $91.00 target price on shares of Camden Property Trust in a research note on Sunday, July 16th. Barclays PLC lifted their target price on shares of Camden Property Trust from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Evercore ISI upgraded shares of Camden Property Trust from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $90.00 in a research note on Thursday, May 18th. They noted that the move was a valuation call. Finally, BTIG Research upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Monday, April 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $88.42.
In other Camden Property Trust news, President D Keith Oden sold 86,540 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $89.43, for a total transaction of $7,739,272.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William F. Paulsen sold 2,227 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $87.18, for a total transaction of $194,149.86. Following the transaction, the director now directly owns 14,284 shares in the company, valued at $1,245,279.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,811 shares of company stock worth $10,812,185. 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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