Meritage Portfolio Management acquired a new stake in shares of Camden Property Trust (NYSE:CPT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,111 shares of the real estate investment trust’s stock, valued at approximately $534,000.
Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Camden Property Trust by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,380,599 shares of the real estate investment trust’s stock valued at $121,560,000 after acquiring an additional 5,954 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Camden Property Trust by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 1,280,615 shares of the real estate investment trust’s stock valued at $112,701,000 after purchasing an additional 98,418 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Camden Property Trust by 0.7% during the 1st quarter. State of Alaska Department of Revenue now owns 38,895 shares of the real estate investment trust’s stock valued at $3,946,000 after purchasing an additional 282 shares during the last quarter. Traynor Capital Management Inc. bought a new position in Camden Property Trust during the 1st quarter valued at about $203,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Camden Property Trust during the 1st quarter valued at about $346,000. 92.69% of the stock is currently owned by institutional investors.
In other Camden Property Trust news, Chairman Richard J. Campo sold 60,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $105.32, for a total value of $6,319,200.00. Following the completion of the transaction, the chairman now directly owns 273,948 shares of the company’s stock, valued at $28,852,203.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William F. Paulsen sold 1,979 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $102.19, for a total transaction of $202,234.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,658 shares of company stock valued at $12,417,641. Insiders own 3.40% of the company’s stock.
Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.84). Camden Property Trust had a return on equity of 4.48% and a net margin of 16.05%. The company had revenue of $255.76 million during the quarter, compared to the consensus estimate of $252.76 million. During the same period in the prior year, the firm posted $1.00 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts expect that Camden Property Trust will post 5.09 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Thursday, June 27th. Camden Property Trust’s dividend payout ratio is presently 67.09%.
Several equities analysts recently issued reports on CPT shares. Citigroup lifted their price target on shares of Camden Property Trust from $100.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Barclays reissued a “buy” rating and set a $108.00 price target on shares of Camden Property Trust in a report on Tuesday, April 16th. Zacks Investment Research downgraded shares of Camden Property Trust from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th. KeyCorp lifted their price target on shares of Camden Property Trust from $105.00 to $112.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, SunTrust Banks lifted their price target on shares of Camden Property Trust to $108.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $102.43.
Camden Property Trust 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 161 properties containing 55,160 apartment homes across the United States.
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