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

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

Camden Property Trust Stock Performance

Shares of CPT stock traded down $0.58 during trading hours on Friday, reaching $119.77. 864,418 shares of the company’s stock were exchanged, compared to its average volume of 989,953. Camden Property Trust has a fifty-two week low of $86.50 and a fifty-two week high of $127.69. 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 stock has a market capitalization of $12.78 billion, a P/E ratio of 37.90, a P/E/G ratio of 4.49 and a beta of 0.91. The business has a fifty day moving average price of $121.10 and a 200-day moving average price of $114.78.

Camden Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Monday, September 30th. Camden Property Trust’s dividend payout ratio (DPR) is presently 130.38%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CPT. Vanguard Group Inc. grew its position in Camden Property Trust by 1.7% during 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 in the last quarter. State Street Corp lifted its position in shares of Camden Property Trust by 0.5% in 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 acquiring an additional 36,528 shares during the period. Victory Capital Management Inc. lifted its position in shares of Camden Property Trust by 5.0% in the 2nd quarter. Victory Capital Management Inc. now owns 4,314,030 shares of the real estate investment trust’s stock worth $470,704,000 after acquiring an additional 206,654 shares during the period. FMR LLC grew its holdings in shares of Camden Property Trust by 14.5% during the 3rd quarter. FMR LLC now owns 3,297,370 shares of the real estate investment trust’s stock worth $407,324,000 after purchasing an additional 416,701 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Camden Property Trust by 0.7% during 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 during the period. Institutional investors own 97.22% of the company’s stock.

Analyst Upgrades and Downgrades

CPT has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Camden Property Trust from $112.00 to $129.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Stifel Nicolaus cut Camden Property Trust from a “buy” rating to a “hold” rating and boosted their price target for the company from $120.00 to $121.00 in a research note on Wednesday. Truist Financial raised their price objective on shares of Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, August 26th. The Goldman Sachs Group initiated coverage on shares of Camden Property Trust in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $139.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on shares of Camden Property Trust in a research note on Friday, October 11th. They set a “hold” rating and a $123.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Camden Property Trust has a consensus rating of “Hold” and a consensus price target of $122.50.

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.