Short Interest in Camden Property Trust (NYSE:CPT) Expands By 24.2%

by · The Markets Daily

Camden Property Trust (NYSE:CPT – Get Free Report) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 1,590,000 shares, a growth of 24.2% from the February 28th total of 1,280,000 shares. Based on an average daily trading volume, of 887,700 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.5% of the shares of the company are short sold.

Analysts Set New Price Targets

CPT has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Scotiabank increased their target price on shares of Camden Property Trust from $130.00 to $135.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Mizuho dropped their price target on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Barclays lifted their target price on shares of Camden Property Trust from $126.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price target on Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $127.76.

View Our Latest Research Report on Camden Property Trust

Insider Buying and Selling

In other Camden Property Trust news, Director Heather J. Brunner sold 264 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $29,055.84. Following the completion of the sale, the director now directly owns 10,273 shares in the company, valued at approximately $1,130,646.38. The trade was a 2.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alexander J. Jessett sold 13,067 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $1,496,171.50. Following the completion of the transaction, the chief financial officer now owns 124,246 shares in the company, valued at approximately $14,226,167. This trade represents a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,548 shares of company stock worth $2,912,212. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Camden Property Trust

Several institutional investors and hedge funds have recently made changes to their positions in CPT. SMART Wealth LLC bought a new stake in Camden Property Trust during the 3rd quarter valued at about $829,000. Nordea Investment Management AB boosted its holdings in shares of Camden Property Trust by 15.0% in the fourth quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock valued at $11,339,000 after purchasing an additional 12,805 shares during the period. Franklin Resources Inc. grew its stake in Camden Property Trust by 3.2% in the third quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock worth $23,174,000 after purchasing an additional 5,985 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Camden Property Trust by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock worth $66,563,000 after purchasing an additional 51,097 shares during the period. Finally, Atomi Financial Group Inc. raised its position in Camden Property Trust by 7.7% during the 4th quarter. Atomi Financial Group Inc. now owns 2,335 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 166 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors.

Camden Property Trust Trading Up 0.8 %

CPT stock traded up $1.01 during midday trading on Wednesday, reaching $122.93. 844,506 shares of the company traded hands, compared to its average volume of 893,841. The business has a 50 day moving average of $119.18 and a 200-day moving average of $119.19. Camden Property Trust has a 52-week low of $94.75 and a 52-week high of $127.69. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 81.95, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14.

Camden Property Trust (NYSE:CPT – Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. As a group, sell-side analysts expect that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Camden Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a $1.05 dividend. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, March 31st. This represents a $4.20 dividend on an annualized basis and a yield of 3.42%. Camden Property Trust’s dividend payout ratio (DPR) is presently 280.00%.

About Camden Property Trust

(Get Free Report)

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.

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