Honeywell International Inc. bought a new stake in Camden Property Trust (NYSE:CPT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,600 shares of the real estate investment trust’s stock, valued at approximately $735,000.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Camden Property Trust by 3,883.3% in the first quarter. BlackRock Inc. now owns 10,140,490 shares of the real estate investment trust’s stock valued at $815,902,000 after buying an additional 9,885,917 shares during the period. Morgan Stanley increased its stake in Camden Property Trust by 35.4% in the first quarter. Morgan Stanley now owns 3,501,894 shares of the real estate investment trust’s stock valued at $281,763,000 after buying an additional 915,901 shares during the period. Prudential Financial Inc. increased its stake in Camden Property Trust by 234.2% in the first quarter. Prudential Financial Inc. now owns 1,074,799 shares of the real estate investment trust’s stock valued at $86,478,000 after buying an additional 753,214 shares during the period. Vanguard Group Inc. increased its stake in Camden Property Trust by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,104,790 shares of the real estate investment trust’s stock valued at $1,134,871,000 after buying an additional 357,480 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Camden Property Trust by 51.7% in the second quarter. Russell Investments Group Ltd. now owns 774,012 shares of the real estate investment trust’s stock valued at $66,224,000 after buying an additional 263,839 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of Camden Property Trust (NYSE CPT) opened at 90.35 on Thursday. The stock has a market cap of $7.92 billion, a PE ratio of 20.21 and a beta of 0.37. Camden Property Trust has a 52-week low of $75.36 and a 52-week high of $90.83. The company’s 50-day moving average price is $87.51 and its 200-day moving average price is $83.92.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.02. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The firm had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $222.44 million. During the same quarter last year, the firm earned $1.15 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. On average, equities research analysts forecast that Camden Property Trust will post $1.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 3.32%. Camden Property Trust’s dividend payout ratio is currently 67.11%.
Several equities research analysts have commented on CPT shares. Evercore ISI boosted their target price on Camden Property Trust from $87.00 to $88.00 and gave the stock an “in-line” rating in a report on Wednesday, April 19th. KeyCorp upgraded Camden Property Trust from a “sector weight” rating to an “overweight” rating and set a $93.00 price target for the company in a research note on Tuesday, June 13th. They noted that the move was a valuation call. BTIG Research upgraded Camden Property Trust from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Monday, April 24th. BidaskClub upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, BMO Capital Markets set a $81.00 price target on Camden Property Trust and gave the stock a “hold” rating in a research note on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $88.38.
In other Camden Property Trust news, EVP Alexander J. Jessett sold 11,788 shares of Camden Property Trust stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $89.81, for a total transaction of $1,058,680.28. Following the completion of the sale, the executive vice president now owns 56,783 shares of the company’s stock, valued at approximately $5,099,681.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William W. Sengelmann sold 5,085 shares of Camden Property Trust stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $90.15, for a total value of $458,412.75. Following the sale, the executive vice president now directly owns 71,836 shares of the company’s stock, valued at approximately $6,476,015.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,811 shares of company stock valued at $10,812,185. 4.70% of the stock is currently owned by insiders.
About Camden Property Trust
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.
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