Cigna earnings beat by $0.04, revenue topped estimates
HOUSTON—Jessett Alexander J., President and Chief Financial Officer of Camden Property Trust (NYSE:CPT), a $12 billion market cap real estate investment trust with a GOOD financial health score according to InvestingPro, recently conducted significant stock transactions, according to a filing with the Securities and Exchange Commission. On January 6 and January 8, Jessett sold a total of 14,929 common shares of the real estate investment trust.
The transactions, executed at prices ranging from $110.059 to $114.505 per share, culminated in a total value of approximately $1,701,166. Following these sales, Jessett retains ownership of 122,384 shares in the company.
The shares were part of an executive deferred compensation plan, with the sale executed following an irrevocable election made by Jessett in December 2024, in compliance with Section 409A of the Internal Revenue Code. For deeper insights into Camden Property Trust's financial health and valuation metrics, access the comprehensive Pro Research Report available exclusively on InvestingPro.
In other recent news, Camden Property Trust has been a focus of both legal and financial developments. The U.S. Justice Department has expanded its antitrust lawsuit against RealPage Inc., now including Camden Property Trust, among others, in allegations of a collective pricing scheme. In the financial sector, both JPMorgan and Stifel have downgraded the company's stock due to concerns about its near-term growth prospects. RBC Capital Markets also adjusted its outlook on Camden Property Trust by reducing the price target.
Despite these challenges, Camden Property Trust reported robust third-quarter results for 2024, surpassing earnings expectations with core funds from operations (FFO) reaching $1.71 per share. The company is shifting its strategic focus towards suburban development, initiating $320 million in new projects late in 2024, with an additional $375 million expected to start in early 2025.
These are the recent developments surrounding Camden Property Trust, indicating a period of significant change and adaptation for the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.