SSgA Funds Management, Inc. recently announced the acquisition of new stake in Camden Property Trust (NYSE:CPT). The institutional investor has increased its shareholding in the Real Estate company by 1.84% to 5.69 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 5.84% valued currently at $518.86 million. In addition, Capital Research & Management Co. raised its holdings by 0.72 million to 2.58 million shares. And T. Rowe Price Associates, Inc. (I. has lifted its position by 11.27% or 0.21 million shares – to 2.12 million shares.
With over 0.57 million Camden Property Trust (CPT) shares trading Thursday and a closing price of $89.97 on the day, the dollar volume was approximately $51.19 million. The shares have shown a positive weekly performance of 1.50% and its price on 07/16/20 lost nearly -1.61%. Currently, there are 99.30M common shares owned by the public and among those 95.46M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for CPT have a consensus price objective of $101.88. The analysts have set the share’s price value over the next 12 months at a high of $122.00 and a low of $92.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Camden Property Trust stock is 2.00 for the next 12 months. The average price target is 13.39% above its last price level and an upside to the estimated low will see the stock gain 2.21% over that period. But an upside of 26.25% will see the stock hit the forecast high price target while mean target price for the stock is $100.50.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 279,002 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 266,293 shares.
The top 3 mutual fund holders in Camden Property Trust are Vanguard Real Estate Index Fund, Vanguard Total Stock Market Index, and iShares Core S&P Mid Cap ETF. Vanguard Real Estate Index Fund owns 4.33 million shares of the company’s stock, all valued at over $395.31 million. The company sold 85896.0 shares recently to bring their total holdings to about 4.45% of the shares outstanding. Vanguard Total Stock Market Index sold 9305.0 shares to see its total holdings shrink to 2.8 million shares valued at over $255.73 million and representing 2.88% of the shares outstanding. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.68% of the shares outstanding.
Shares of Camden Property Trust (NYSE: CPT) opened at $91.14, down -$0.3 from a prior closing price of $91.44. However, the script later closed the day at $89.97, down -1.61%. The company’s stock has a 5-day price change of 1.50% and 7.34% over the past three months. CPT shares are trading -15.20% year to date (YTD), with the 12-month market performance down to -16.79% lower. It has a 12-month low price of $62.48 and touched a high of $120.73 over the same period. Currently, 0.57 million shares have been traded, compared to an average intraday trading volume of 809.62K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.28%, -1.32%, and -10.58% respectively.
Institutional ownership of Camden Property Trust (NYSE: CPT) shares accounts for 94.70% of the company’s 99.30M shares outstanding. Mutual fund holders own 55.06%, while other institutional holders and individual stakeholders account for 6.22% and 39.54% respectively.
It has a market capitalization of $8.69B and a beta (3y monthly) value of 0.78. The stock’s trailing 12-month PE ratio is 40.13, while the earnings-per-share (ttm) stands at $2.24. The company has a PEG of 11.15 and the debt-to-equity ratio at 0.72. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.01% over the week and 2.61% over the month.
Analysts forecast that Camden Property Trust (CPT) will achieve an EPS of $0.28 for the current quarter, $0.37 for the next quarter and $1.63 for 2021. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.41. Comparatively, EPS for the current quarter was $0.43 a year ago. Earnings per share for the fiscal year are expected to increase by 36.60%, and 10.58% over the next financial year. EPS should grow at an annualized rate of 3.60% over the next five years, compared to -6.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Camden Property Trust (CPT) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 4 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CPT, a number of firms have released research notes about the stock. BofA/Merrill stated their Buy rating for the stock in a research note on May 18, 2020, with the firm’s price target at. BMO Capital Markets coverage for the Camden Property Trust (CPT) stock in a research note released on April 08, 2020 offered a Market Perform rating with a price target of $90. Evercore ISI was of a view on March 16, 2020 that the stock is Outperform, while BTIG Research gave the stock Neutral rating on March 10, 2020, issuing a price target of. Deutsche Bank on their part issued Buy rating on January 06, 2020.