Camden Property Trust (NYSE:CPT) Short Interest Down 30.4% in February

by · The Markets Daily

Camden Property Trust (NYSE:CPT – Get Free Report) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 1,280,000 shares, a drop of 30.4% from the February 13th total of 1,840,000 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 853,000 shares, the days-to-cover ratio is currently 1.5 days.

Insider Buying and Selling

In related news, Director Heather J. Brunner sold 1,853 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 transaction of $212,168.50. Following the completion of the sale, the director now directly owns 10,537 shares of the company’s stock, valued at $1,206,486.50. This trade represents a 14.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard J. Campo sold 1,043 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total value of $114,792.58. Following the completion of the transaction, the chief executive officer now directly owns 299,092 shares in the company, valued at approximately $32,918,065.52. This represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,548 shares of company stock worth $2,912,212 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Camden Property Trust by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 17,250,406 shares of the real estate investment trust’s stock worth $2,001,737,000 after buying an additional 125,287 shares during the last quarter. State Street Corp grew its stake in Camden Property Trust by 0.5% in the third quarter. State Street Corp now owns 7,118,930 shares of the real estate investment trust’s stock valued at $886,693,000 after purchasing an additional 36,528 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Camden Property Trust by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock worth $510,674,000 after purchasing an additional 277,117 shares during the last quarter. FMR LLC raised its stake in shares of Camden Property Trust by 14.5% during the 3rd quarter. FMR LLC now owns 3,297,370 shares of the real estate investment trust’s stock worth $407,324,000 after purchasing an additional 416,701 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Camden Property Trust by 17.3% in the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust’s stock valued at $344,432,000 after buying an additional 438,685 shares in the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on CPT shares. Wells Fargo & Company decreased their price objective on Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Truist Financial lifted their price objective on Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Jefferies Financial Group upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and upped their target price for the company from $117.00 to $139.00 in a research report on Monday, March 10th. JPMorgan Chase & Co. cut shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $129.00 to $128.00 in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada increased their price objective on shares of Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $127.19.

View Our Latest Research Report on CPT

Camden Property Trust Stock Up 1.8 %

Shares of NYSE:CPT traded up $2.15 during midday trading on Monday, reaching $120.24. 705,849 shares of the company were exchanged, compared to its average volume of 855,856. The firm has a market cap of $12.84 billion, a PE ratio of 80.16, a P/E/G ratio of 4.41 and a beta of 0.94. Camden Property Trust has a fifty-two week low of $94.75 and a fifty-two week high of $127.69. The stock has a fifty day simple moving average of $116.87 and a two-hundred day simple moving average of $119.39. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73.

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

Camden Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a $1.05 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.49%. Camden Property Trust’s dividend payout ratio (DPR) is 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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