Camden Property Trust (NYSE:CPT) Sees Significant Growth in Short Interest

Camden Property Trust (NYSE:CPT) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,590,000 shares, an increase 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 short-interest ratio is currently 1.8 days. Approximately 1.5% of the shares of the stock are short sold.

Camden Property Trust Stock Down 0.4 %

Shares of NYSE:CPT traded down $0.55 during trading on Tuesday, hitting $121.75. The company’s stock had a trading volume of 1,350,915 shares, compared to its average volume of 894,038. Camden Property Trust has a fifty-two week low of $94.75 and a fifty-two week high of $127.69. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. The company has a market capitalization of $13.25 billion, a PE ratio of 81.17, a PEG ratio of 4.41 and a beta of 0.94. The stock’s 50-day moving average price is $118.94 and its two-hundred day moving average price is $119.16.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Monday, March 31st. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. Camden Property Trust’s dividend payout ratio is 280.00%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CPT. Truist Financial raised their price target on Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Wells Fargo & Company reduced their target price on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Mizuho lowered their price target on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Jefferies Financial Group raised Camden Property Trust from a “hold” rating to a “buy” rating and boosted their price objective for the company from $117.00 to $139.00 in a report on Monday, March 10th. Finally, Royal Bank of Canada lifted their price target on Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a research 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $127.76.

Insider Activity

In other Camden Property Trust news, CFO Alexander J. Jessett sold 13,067 shares of the company’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 sale, the chief financial officer now directly owns 124,246 shares in the company, valued at approximately $14,226,167. This represents a 9.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Heather J. Brunner sold 1,853 shares of the company’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 $212,168.50. Following the sale, the director now owns 10,537 shares of the company’s stock, valued at $1,206,486.50. This trade represents a 14.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,548 shares of company stock worth $2,912,212. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Camden Property Trust

Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in Camden Property Trust by 2.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 107,361 shares of the real estate investment trust’s stock worth $13,262,000 after acquiring an additional 2,590 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of Camden Property Trust in the 3rd quarter valued at approximately $294,000. Glenmede Trust Co. NA acquired a new stake in Camden Property Trust in the third quarter valued at approximately $223,000. CreativeOne Wealth LLC bought a new position in shares of Camden Property Trust during the 3rd quarter valued at $248,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Camden Property Trust by 508.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 946,417 shares of the real estate investment trust’s stock worth $116,911,000 after buying an additional 790,974 shares during the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Company Profile

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.