Insider Selling: Camden Property Trust (NYSE:CPT) CEO Sells 7,324 Shares of Stock

Camden Property Trust (NYSE:CPT) CEO Richard J. Campo sold 7,324 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $114.50, for a total transaction of $838,598.00. Following the transaction, the chief executive officer now directly owns 300,135 shares of the company’s stock, valued at $34,365,457.50. The trade was a 2.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $111.05 on Thursday. The stock has a fifty day moving average of $119.22 and a 200-day moving average of $118.52. The stock has a market cap of $11.85 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 4.40 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.15 and a current ratio of 0.15. Camden Property Trust has a fifty-two week low of $90.50 and a fifty-two week high of $127.69.

Camden Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Wednesday, December 18th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, December 18th. Camden Property Trust’s payout ratio is 130.38%.

Hedge Funds Weigh In On Camden Property Trust

Several hedge funds have recently bought and sold shares of the company. SMART Wealth LLC purchased a new position in shares of Camden Property Trust during the 3rd quarter valued at $829,000. QRG Capital Management Inc. bought a new stake in shares of Camden Property Trust during the 3rd quarter valued at about $1,660,000. Franklin Resources Inc. grew its holdings in shares of Camden Property Trust by 3.2% during the third quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock worth $23,174,000 after purchasing an additional 5,985 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Camden Property Trust by 10.5% in the third quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock worth $66,563,000 after purchasing an additional 51,097 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new stake in Camden Property Trust in the third quarter valued at approximately $2,913,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com lowered Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Stifel Nicolaus lowered Camden Property Trust from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $120.00 to $121.00 in a research note on Wednesday, November 13th. Evercore ISI upped their target price on Camden Property Trust from $116.00 to $118.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Jefferies Financial Group started coverage on shares of Camden Property Trust in a report on Friday, October 11th. They set a “hold” rating and a $123.00 price target for the company. Finally, BNP Paribas began coverage on shares of Camden Property Trust in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $129.00 price target on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $126.75.

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.