Camden Property Trust (NYSE:CPT) Short Interest Update

Camden Property Trust (NYSE:CPT - Get Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 2,160,000 shares, a drop of 12.9% from the April 30th total of 2,480,000 shares. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is presently 2.0 days. Currently, 2.1% of the company's stock are sold short.

Insider Activity

In other news, Director Steven A. Webster sold 1,200 shares of Camden Property Trust stock in a transaction on Friday, May 16th. The stock was sold at an average price of $118.76, for a total value of $142,512.00. Following the transaction, the director now directly owns 117,374 shares in the company, valued at approximately $13,939,336.24. This trade represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard J. Campo sold 5,572 shares of Camden Property Trust stock in a transaction 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 completion of the transaction, the chief executive officer now owns 289,720 shares in the company, valued at $34,621,540. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,907 shares of company stock worth $824,860. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Camden Property Trust

A number of hedge funds have recently modified their holdings of CPT. Blue Trust Inc. boosted its stake in shares of Camden Property Trust by 57.8% in the fourth quarter. Blue Trust Inc. now owns 1,469 shares of the real estate investment trust's stock worth $182,000 after buying an additional 538 shares during the last quarter. Caprock Group LLC acquired a new position in Camden Property Trust in the 4th quarter worth about $444,000. Jennison Associates LLC raised its holdings in Camden Property Trust by 20.9% in the 4th quarter. Jennison Associates LLC now owns 461,504 shares of the real estate investment trust's stock worth $53,553,000 after purchasing an additional 79,896 shares during the period. Boston Trust Walden Corp raised its holdings in Camden Property Trust by 3.9% in the 4th quarter. Boston Trust Walden Corp now owns 294,595 shares of the real estate investment trust's stock worth $34,185,000 after purchasing an additional 11,163 shares during the period. Finally, Spirit of America Management Corp NY raised its holdings in Camden Property Trust by 2.1% in the 4th quarter. Spirit of America Management Corp NY now owns 9,800 shares of the real estate investment trust's stock worth $1,137,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 97.22% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Evercore ISI raised their price objective on Camden Property Trust from $118.00 to $127.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Truist Financial set a $131.00 price objective on Camden Property Trust and gave the stock a "buy" rating in a research report on Monday, May 19th. Jefferies Financial Group raised Camden Property Trust from a "hold" rating to a "buy" rating and raised their price objective for the stock from $117.00 to $139.00 in a research report on Monday, March 10th. Mizuho lowered their price objective on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Finally, Scotiabank raised their price objective on Camden Property Trust from $135.00 to $144.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $129.78.

Camden Property Trust Stock Performance

Shares of CPT traded up $0.15 during mid-day trading on Friday, reaching $115.89. The company had a trading volume of 595,130 shares, compared to its average volume of 921,940. Camden Property Trust has a 52-week low of $102.35 and a 52-week high of $127.69. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $12.38 billion, a P/E ratio of 77.26, a PEG ratio of 4.41 and a beta of 0.78. The stock has a 50 day moving average of $114.78 and a two-hundred day moving average of $117.04.

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

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.