Bank of America Corp DE Sells 42,836 Shares of Camden Property Trust (NYSE:CPT)

Bank of America Corp DE lowered its holdings in shares of Camden Property Trust (NYSE:CPT - Free Report) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 425,860 shares of the real estate investment trust's stock after selling 42,836 shares during the quarter. Bank of America Corp DE owned about 0.40% of Camden Property Trust worth $49,417,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CPT. UMB Bank n.a. increased its holdings 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 purchasing an additional 98 shares during the period. National Pension Service bought a new position in shares of Camden Property Trust during the 4th quarter worth about $26,000. Quent Capital LLC boosted 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 acquiring an additional 114 shares in the last quarter. IAG Wealth Partners LLC acquired a new stake in shares of Camden Property Trust during the 4th quarter valued at about $29,000. Finally, Bellwether Advisors LLC acquired a new stake in shares of Camden Property Trust during the 4th quarter valued at about $31,000. Institutional investors own 97.22% of the company's stock.

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock remained flat at $119.06 during midday trading on Tuesday. 54,403 shares of the company traded hands, compared to its average volume of 917,610. The stock has a market capitalization of $12.72 billion, a PE ratio of 79.36, a price-to-earnings-growth ratio of 4.41 and a beta of 0.79. 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 business has a 50 day simple moving average of $116.03 and a two-hundred day simple moving average of $117.44. Camden Property Trust has a 12 month low of $98.35 and a 12 month high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 EPS for the quarter, topping the consensus estimate of $1.68 by $0.04. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. The business had revenue of $390.57 million for the quarter, compared to the consensus estimate of $388.47 million. During the same period last year, the company earned $1.70 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that Camden Property Trust will post 6.76 earnings per share for the current year.

Insider Transactions at Camden Property Trust

In other news, CEO Richard J. Campo sold 5,572 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total value of $665,854.00. Following the transaction, the chief executive officer now owns 289,720 shares in the company, valued at approximately $34,621,540. The trade was a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven A. Webster sold 1,200 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the completion of the transaction, the director now owns 117,374 shares in the company, valued at $13,939,336.24. This trade represents a 1.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,907 shares of company stock worth $824,860. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CPT. Royal Bank of Canada lifted their target price on shares of 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. Jefferies Financial Group upgraded shares of Camden Property Trust from a "hold" rating to a "buy" rating and boosted their price target for the company from $117.00 to $139.00 in a research report on Monday, March 10th. Wells Fargo & Company reduced their price target on shares of 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. Evercore ISI boosted their price target on shares of Camden Property Trust from $118.00 to $127.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Finally, StockNews.com lowered shares of Camden Property Trust from a "hold" rating to a "sell" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $129.94.

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.