New York State Teachers Retirement System lowered its position in Camden Property Trust (NYSE:CPT) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,712 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System owned approximately 0.13% of Camden Property Trust worth $13,123,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CPT. Icon Wealth Partners LLC purchased a new position in Camden Property Trust in the first quarter valued at about $52,000. Penserra Capital Management LLC acquired a new position in shares of Camden Property Trust in the 1st quarter worth approximately $58,000. NEXT Financial Group Inc raised its holdings in shares of Camden Property Trust by 15.4% in the 2nd quarter. NEXT Financial Group Inc now owns 898 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 120 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Camden Property Trust during the 1st quarter valued at $122,000. Finally, Traynor Capital Management Inc. acquired a new stake in Camden Property Trust during the 1st quarter valued at $203,000. Hedge funds and other institutional investors own 92.94% of the company’s stock.
In other news, COO H Malcolm Stewart sold 16,200 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $107.17, for a total value of $1,736,154.00. Following the transaction, the chief operating officer now directly owns 149,537 shares in the company, valued at approximately $16,025,880.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President D Keith Oden sold 37,500 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $105.44, for a total value of $3,954,000.00. Following the completion of the transaction, the president now owns 291,083 shares in the company, valued at $30,691,791.52. The disclosure for this sale can be found here. Insiders sold a total of 115,679 shares of company stock worth $12,211,588 over the last 90 days. 3.40% of the stock is owned by corporate insiders.
Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.84). Camden Property Trust had a net margin of 16.05% and a return on equity of 4.48%. The firm had revenue of $255.76 million during the quarter, compared to the consensus estimate of $252.76 million. During the same quarter in the previous year, the business posted $1.00 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Camden Property Trust will post 5.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were given a $0.80 dividend. The ex-dividend date was Thursday, June 27th. This represents a $3.20 annualized dividend and a dividend yield of 3.02%. Camden Property Trust’s dividend payout ratio is currently 67.09%.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price target for the company in a report on Tuesday, June 25th. DA Davidson cut Piedmont Office Realty Trust from a “buy” rating to a “neutral” rating in a report on Tuesday, July 23rd. SunTrust Banks raised their price target on Camden Property Trust to $108.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Citigroup raised their price target on Visteon from $58.00 to $69.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, KeyCorp increased their price objective on Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Camden Property Trust presently has an average rating of “Buy” and an average target price of $102.60.
About Camden Property Trust
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 161 properties containing 55,160 apartment homes across the United States.
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