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HOUSTON—Michael P. Gallagher, Chief Accounting Officer of Camden Property Trust (NYSE:CPT), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Gallagher sold 135 common shares on March 10 at a price of $122.182 per share, amounting to a total transaction value of $16,494. The transaction occurred as the stock trades near its 52-week high of $127.69, according to InvestingPro data.
This transaction was conducted to cover liabilities incurred from the vesting of restricted shares. Following the sale, Gallagher retains ownership of 39,596 shares. Camden Property Trust, a real estate investment trust based in Houston with a market capitalization of $13.1 billion, continues its operations in the real estate sector. The company maintains a strong dividend track record, having maintained payments for 33 consecutive years, with a current yield of 3.44%. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Camden Property Trust reported its fourth-quarter 2024 earnings, revealing a slight miss on earnings per share (EPS) compared to market expectations. The EPS came in at $0.37, falling short of the anticipated $0.41, while revenue slightly exceeded forecasts at $386.32 million against an expected $384.24 million. Jefferies analyst Linda Tsai upgraded Camden’s stock rating from Hold to Buy, raising the price target to $139, citing the company’s significant exposure to Sunbelt markets. RBC Capital Markets also updated its outlook, increasing the price target to $123 while maintaining a Sector Perform rating. The company has been noted for reducing operating expenses and maintaining stable leasing spreads during typically low seasons. Camden’s guidance for 2025 indicates a focus on strategic market repositioning, targeting $750 million in acquisitions and dispositions. The company’s operational performance continues to show resilience, with core funds from operations reported at $190.4 million, or $1.73 per share. These developments reflect Camden’s strategic initiatives and future growth potential.
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