Short Interest in Camden Property Trust (NYSE:CPT) Decreases By 13.5%

Camden Property Trust (NYSE:CPT) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,730,000 shares, a drop of 13.5% from the October 15th total of 2,000,000 shares. Based on an average trading volume of 993,000 shares, the short-interest ratio is presently 1.7 days.

Institutional Investors Weigh In On Camden Property Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 289,425 shares in the last quarter. State Street Corp grew its position in Camden Property Trust by 0.5% during the 3rd quarter. State Street Corp now owns 7,118,930 shares of the real estate investment trust’s stock worth $886,693,000 after purchasing an additional 36,528 shares in the last quarter. Victory Capital Management Inc. raised its stake in Camden Property Trust by 5.0% during the 2nd 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 period. FMR LLC lifted its holdings in shares of Camden Property Trust by 14.5% in the third quarter. FMR LLC now owns 3,297,370 shares of the real estate investment trust’s stock valued at $407,324,000 after purchasing an additional 416,701 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Camden Property Trust by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,739,831 shares of the real estate investment trust’s stock valued at $337,394,000 after purchasing an additional 20,097 shares in the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

Camden Property Trust Price Performance

CPT traded down $0.58 during trading on Friday, reaching $119.77. The stock had a trading volume of 864,418 shares, compared to its average volume of 989,953. The stock has a 50 day moving average of $121.10 and a two-hundred day moving average of $114.78. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $12.78 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 4.49 and a beta of 0.91. Camden Property Trust has a 1-year low of $86.50 and a 1-year high of $127.69.

Camden Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Monday, September 30th. Camden Property Trust’s payout ratio is 130.38%.

Analyst Ratings Changes

CPT has been the topic of a number of recent research reports. StockNews.com cut Camden Property Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Royal Bank of Canada decreased their price target on Camden Property Trust from $131.00 to $127.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Jefferies Financial Group assumed coverage on shares of Camden Property Trust in a research note on Friday, October 11th. They issued a “hold” rating and a $123.00 target price for the company. Piper Sandler lifted their price target on shares of Camden Property Trust from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Wedbush raised their target price on Camden Property Trust from $118.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $122.50.

Camden Property Trust Company Profile

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.