California State Teachers Retirement System Lowers Stake in Camden Property Trust (CPT)

California State Teachers Retirement System cut its holdings in shares of Camden Property Trust (NYSE:CPT) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,541 shares of the real estate investment trust’s stock after selling 6,933 shares during the period. California State Teachers Retirement System owned 0.17% of Camden Property Trust worth $14,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Camden Property Trust by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,190,009 shares of the real estate investment trust’s stock valued at $1,213,387,000 after buying an additional 85,219 shares during the last quarter. BlackRock Inc. grew its position in Camden Property Trust by 3.1% in the 2nd quarter. BlackRock Inc. now owns 10,451,376 shares of the real estate investment trust’s stock valued at $893,697,000 after buying an additional 310,886 shares during the last quarter. JPMorgan Chase & Co. grew its position in Camden Property Trust by 27.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,636,486 shares of the real estate investment trust’s stock valued at $332,848,000 after buying an additional 778,543 shares during the last quarter. Bank of New York Mellon Corp grew its position in Camden Property Trust by 93.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,365,047 shares of the real estate investment trust’s stock valued at $216,282,000 after buying an additional 1,144,162 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Camden Property Trust by 32.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,312,251 shares of the real estate investment trust’s stock valued at $112,211,000 after buying an additional 318,689 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

A number of equities analysts recently weighed in on CPT shares. Sandler O’Neill upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and lifted their price objective for the company from $93.00 to $105.00 in a research report on Tuesday, September 5th. UBS reiterated a “sell” rating and issued a $86.00 price objective (up from $80.00) on shares of Camden Property Trust in a research report on Thursday, September 14th. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 price objective on shares of Camden Property Trust in a research report on Friday, September 8th. 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 on the stock. Finally, Mizuho reiterated a “hold” rating and issued a $94.00 price objective on shares of Camden Property Trust in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $93.00.

Shares of Camden Property Trust (CPT) opened at $90.91 on Friday. Camden Property Trust has a fifty-two week low of $78.38 and a fifty-two week high of $96.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.94 and a quick ratio of 1.94. The company has a market capitalization of $8,323.15, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41.

Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, October 26th. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.03). Camden Property Trust had a net margin of 16.81% and a return on equity of 4.71%. The business had revenue of $228.18 million during the quarter, compared to analyst estimates of $226.41 million. During the same period last year, the business posted $1.13 EPS. Camden Property Trust’s revenue was up 3.6% compared to the same quarter last year. equities research analysts expect that Camden Property Trust will post 4.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, December 15th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Thursday, December 14th. Camden Property Trust’s dividend payout ratio (DPR) is currently 182.93%.

In other news, President D Keith Oden sold 13,086 shares of Camden Property Trust stock in a transaction on Friday, December 8th. The stock was sold at an average price of $92.25, for a total transaction of $1,207,183.50. Following the completion of the transaction, the president now owns 364,771 shares of the company’s stock, valued at approximately $33,650,124.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard J. Campo sold 379 shares of Camden Property Trust stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $94.44, for a total value of $35,792.76. Following the transaction, the chairman now directly owns 338,519 shares of the company’s stock, valued at approximately $31,969,734.36. The disclosure for this sale can be found here. In the last three months, insiders sold 121,394 shares of company stock valued at $11,201,585. 4.70% of the stock is owned by corporate insiders.

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Camden Property Trust Company Profile

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.

Institutional Ownership by Quarter for Camden Property Trust (NYSE:CPT)

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