Camden Property Trust (NYSE:CPT) Short Interest Down 12.9% in May

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

Analyst Ratings Changes

A number of research firms have recently issued reports on CPT. Jefferies Financial Group raised Camden Property Trust from a "hold" rating to a "buy" rating and raised their price objective for the company from $117.00 to $139.00 in a research report on Monday, March 10th. Scotiabank raised their price target on Camden Property Trust from $135.00 to $144.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Wall Street Zen downgraded shares of Camden Property Trust from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Stifel Nicolaus increased their price objective on shares of Camden Property Trust from $121.00 to $122.00 and gave the company a "hold" rating in a research report on Friday, February 7th. Finally, Citigroup upgraded shares of Camden Property Trust from a "neutral" rating to a "buy" rating and raised their target price for the stock from $125.00 to $138.00 in a research note on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Camden Property Trust presently has an average rating of "Hold" and a consensus price target of $129.78.

Camden Property Trust Price Performance

Shares of NYSE:CPT traded up $0.09 during trading on Wednesday, reaching $117.79. 662,052 shares of the company traded hands, compared to its average volume of 920,294. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. Camden Property Trust has a 52 week low of $102.35 and a 52 week high of $127.69. The firm has a market capitalization of $12.58 billion, a PE ratio of 78.53, a PEG ratio of 4.41 and a beta of 0.79. The company's 50 day moving average is $115.12 and its two-hundred day moving average is $117.16.

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

Insider Buying and Selling at Camden Property Trust

In other news, Director Steven A. Webster sold 1,200 shares of Camden Property Trust stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $118.76, for a total value of $142,512.00. Following the completion of the transaction, the director now owns 117,374 shares of the company's stock, valued at $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 is available at this link. Also, CEO Richard J. Campo sold 5,572 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total transaction of $665,854.00. Following the completion of the sale, the chief executive officer now directly owns 289,720 shares in the company, valued at approximately $34,621,540. The trade was 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. Insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Camden Property Trust in the 4th quarter valued at $187,606,000. Millennium Management LLC boosted its stake in Camden Property Trust by 1,669.3% in the first quarter. Millennium Management LLC now owns 1,078,335 shares of the real estate investment trust's stock valued at $131,880,000 after buying an additional 1,017,388 shares in the last quarter. Nuveen LLC bought a new position in Camden Property Trust in the first quarter valued at about $123,882,000. Invesco Ltd. raised its stake in Camden Property Trust by 17.3% during the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust's stock worth $344,432,000 after acquiring an additional 438,685 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Camden Property Trust by 12,973.9% in the first quarter. GAMMA Investing LLC now owns 403,590 shares of the real estate investment trust's stock worth $49,359,000 after acquiring an additional 400,503 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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