Teachers Insurance & Annuity Association of America Sells 3,924 Shares of Camden Property Trust (CPT)
Teachers Insurance & Annuity Association of America reduced its stake in Camden Property Trust (NYSE:CPT) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,366 shares of the real estate investment trust’s stock after selling 3,924 shares during the period. Teachers Insurance & Annuity Association of America owned approximately 0.10% of Camden Property Trust worth $7,385,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CPT. BlackRock Inc. increased its holdings in Camden Property Trust by 3,883.3% in the 1st quarter. BlackRock Inc. now owns 10,140,490 shares of the real estate investment trust’s stock valued at $815,902,000 after purchasing an additional 9,885,917 shares in the last quarter. Morgan Stanley increased its holdings in Camden Property Trust by 35.4% in the 1st quarter. Morgan Stanley now owns 3,501,894 shares of the real estate investment trust’s stock valued at $281,763,000 after purchasing an additional 915,901 shares in the last quarter. Prudential Financial Inc. increased its holdings in Camden Property Trust by 234.2% in the 1st quarter. Prudential Financial Inc. now owns 1,074,799 shares of the real estate investment trust’s stock valued at $86,478,000 after purchasing an additional 753,214 shares in the last quarter. Vanguard Group Inc. increased its holdings in Camden Property Trust by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 14,104,790 shares of the real estate investment trust’s stock valued at $1,134,871,000 after purchasing an additional 357,480 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Camden Property Trust by 51.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 774,012 shares of the real estate investment trust’s stock valued at $66,224,000 after purchasing an additional 263,839 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.
Shares of Camden Property Trust (NYSE CPT) traded down 0.05% during trading on Monday, hitting $94.15. 213,910 shares of the stock traded hands. Camden Property Trust has a one year low of $75.36 and a one year high of $96.39. The firm has a 50 day moving average price of $90.69 and a 200-day moving average price of $85.43. The company has a market cap of $8.25 billion, a PE ratio of 21.06 and a beta of 0.38.
Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $222.40 million for the quarter, compared to the consensus estimate of $222.44 million. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 EPS. Analysts anticipate that Camden Property Trust will post $1.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.00 annualized dividend and a dividend yield of 3.18%. Camden Property Trust’s payout ratio is 67.11%.
Several analysts recently issued reports on CPT shares. Royal Bank Of Canada increased their price target on Camden Property Trust from $91.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, August 7th. BidaskClub raised shares of Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. KeyCorp upped their price objective on shares of Camden Property Trust from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday. Sandler O’Neill raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and upped their price objective for the company from $93.00 to $105.00 in a research report on Tuesday, September 5th. Finally, Stifel Nicolaus started coverage on shares of Camden Property Trust in a research report on Friday, September 1st. They issued a “buy” rating and a $99.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $91.07.
In other news, President D Keith Oden sold 86,540 shares of the business’s stock in a transaction dated 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 is accessible through this hyperlink. Also, EVP Alexander J. Jessett sold 11,788 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $89.81, for a total transaction of $1,058,680.28. Following the transaction, the executive vice president now owns 56,783 shares in the company, valued at approximately $5,099,681.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,584 shares of company stock worth $10,618,035. Insiders own 4.70% of the company’s stock.
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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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