Camden Property Trust (CPT) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Nov 23, 2016.
On the company’s financial health, Camden Property Trust reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $1.09. The company had revenue of $220.20 million for the quarter, compared to analysts expectations of $218.07 million. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.
Camden Property Trust closed down -0.45 points or -0.59% at $76.05 with 5,26,174 shares getting traded on Monday. Post opening the session at $76.51, the shares hit an intraday low of $75.36 and an intraday high of $76.84 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Nov 9, 2016, William B Mcguire (director) sold 2,124 shares at $81.76 per share price. According to the SEC, on Sep 23, 2016, William W. Sengelmann (EVP – Real Estate Investments) sold 5,878 shares at $85.56 per share price. On Sep 9, 2016, H Malcolm Stewart (Chief Operating Officer) sold 11,122 shares at $89.68 per share price, according to the Form-4 filing with the securities and exchange commission.
Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership management development redevelopment acquisition and construction of multifamily apartment communities. The Companies properties consist of mid-rise buildings or two and three story buildings in a landscaped setting and provide residents with various amenities common to multifamily rental properties. As of December 31 2014 the Company owned interests in operated or was developing 181 multifamily properties consisting of 63163 apartment homes across the United States. The Company’s properties include Camden Copper Square Camden Montierra Camden Sea Palms Camden Tuscany Camden Belleview Station Camden Denver West Camden Fallsgrove Camden Summerfield Camden Bay Camden Brookwood and Camden Ballantyne among others.