Camden Property Trust (NYSE:CPT) Short Interest Down 6.7% in September

Camden Property Trust (NYSE:CPT) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 1,810,000 shares, a decline of 6.7% from the August 31st total of 1,940,000 shares. Based on an average daily volume of 968,200 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Ratings Changes

Several brokerages have recently issued reports on CPT. Scotiabank boosted their price target on shares of Camden Property Trust from $125.00 to $132.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. UBS Group upped their price objective on shares of Camden Property Trust from $109.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Camden Property Trust from $90.00 to $115.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. BNP Paribas initiated 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. Finally, Bank of America upgraded shares of Camden Property Trust from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $111.00 to $147.00 in a research report on Monday, August 12th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $121.69.

Camden Property Trust Price Performance

NYSE CPT opened at $123.71 on Monday. The company has a 50 day simple moving average of $120.72 and a 200-day simple moving average of $109.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $13.18 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 4.76 and a beta of 0.90. Camden Property Trust has a 52-week low of $82.81 and a 52-week high of $127.69.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The company had revenue of $387.15 million during the quarter, compared to analysts’ expectations of $384.76 million. Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. During the same period last year, the company earned $1.70 earnings per share. Equities research analysts predict that Camden Property Trust will post 6.77 earnings per share for the current fiscal year.

Camden Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.12 dividend on an annualized basis and a yield of 3.33%. Camden Property Trust’s dividend payout ratio is currently 100.98%.

Hedge Funds Weigh In On Camden Property Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Camden Property Trust by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock worth $1,701,521,000 after buying an additional 289,425 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Camden Property Trust by 5.0% during the second quarter. Victory Capital Management Inc. now owns 4,314,030 shares of the real estate investment trust’s stock valued at $470,704,000 after purchasing an additional 206,654 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in Camden Property Trust by 64.2% during the first quarter. Centersquare Investment Management LLC now owns 2,296,741 shares of the real estate investment trust’s stock valued at $228,939,000 after purchasing an additional 898,398 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Camden Property Trust by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,597,441 shares of the real estate investment trust’s stock valued at $174,299,000 after purchasing an additional 54,475 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Camden Property Trust by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,472,881 shares of the real estate investment trust’s stock valued at $144,933,000 after purchasing an additional 7,722 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

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.