Camden Property Trust (NYSE:CPT) Short Interest Up 24.2% in March

Camden Property Trust (NYSE:CPT) was the target of a large growth in short interest in the month of 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. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 887,700 shares, the short-interest ratio is currently 1.8 days.

Camden Property Trust Stock Performance

NYSE:CPT traded up $1.01 during mid-day trading on Wednesday, hitting $122.93. The company’s stock had a trading volume of 844,506 shares, compared to its average volume of 893,841. The business’s fifty day moving average is $119.18 and its two-hundred day moving average is $119.19. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 81.95, a PEG ratio of 4.41 and a beta of 0.94. Camden Property Trust has a 1 year low of $94.75 and a 1 year high of $127.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.14 and a quick ratio of 0.15.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share for the quarter, beating 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%. Analysts anticipate that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

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

Insider Buying and Selling at Camden Property Trust

In other news, Director Heather J. Brunner sold 1,853 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $114.50, for a total transaction of $212,168.50. Following the transaction, the director now directly owns 10,537 shares in the company, valued at approximately $1,206,486.50. This trade represents a 14.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard J. Campo sold 7,324 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction of $838,598.00. Following the completion of the transaction, the chief executive officer now directly owns 300,135 shares of the company’s stock, valued at $34,365,457.50. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,548 shares of company stock valued at $2,912,212. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Camden Property Trust

Several hedge funds have recently modified their holdings of CPT. National Pension Service acquired a new position in Camden Property Trust in the 4th quarter worth about $26,000. UMB Bank n.a. raised its stake in shares of Camden Property Trust by 76.6% during the 4th quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 98 shares during the period. Quent Capital LLC lifted its position in shares of Camden Property Trust by 87.0% during the 4th quarter. Quent Capital LLC now owns 245 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 114 shares in the last quarter. IAG Wealth Partners LLC acquired a new stake in Camden Property Trust in the 4th quarter valued at $29,000. Finally, Bellwether Advisors LLC purchased a new stake in Camden Property Trust in the 4th quarter worth $31,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CPT. 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 reduced their price objective on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Evercore ISI raised 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 note on Monday, February 10th. Royal Bank of Canada increased their price objective 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. Finally, Truist Financial boosted their target price on Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Camden Property Trust presently has an average rating of “Hold” and a consensus price target of $127.76.

About Camden Property Trust

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.