Richard J. Campo, Chairman and CEO of Camden Property Trust (NYSE:), a $12 billion market cap real estate investment trust with a strong GOOD financial health rating according to InvestingPro, recently executed two significant stock sales, according to a filing with the Securities and Exchange Commission. On January 6, Campo sold 7,324 common shares at a price of $114.505 per share. Following this, on January 8, he sold an additional 1,043 shares at $110.059 per share. The combined total of these transactions amounts to $953,426. The sales occurred as Camden Property Trust’s shares trade near their Fair Value, based on InvestingPro analysis, with the stock showing a 15% return over the past year.
After these sales, Campo retains direct ownership of 299,092 shares. Additionally, he holds 7,446 shares indirectly through a family partnership and 3,929 shares as the executor of the estate of his late father, Richard Campo Sr. The sales were conducted as part of a planned distribution from the company’s executive deferred compensation plan, which Campo had previously elected in December 2024. The company maintains a solid 3.7% dividend yield and has maintained dividend payments for 32 consecutive years, demonstrating consistent shareholder returns.
In other recent news, Camden Property Trust has been a focal point of multiple analyst downgrades and a significant legal action. The U.S. Justice Department has expanded its antitrust lawsuit against RealPage Inc., now implicating six major landlords, including Camden Property Trust, in allegations of a collective pricing scheme. Analyst firms JPMorgan, Stifel, and RBC Capital Markets have all downgraded Camden Property Trust due to concerns about the company’s growth prospects compared to its peers.
Despite these challenges, Camden Property Trust reported strong third-quarter results for 2024, with core funds from operations (FFO) reaching $1.71 per share, slightly above the forecasted range. The company has adjusted the full-year same-store revenue growth to a range of 1.1% to 1.5%. Additionally, the company has initiated new projects worth $320 million late in 2024, with an additional $375 million expected to start in early 2025.
These developments reflect recent shifts in Camden Property Trust’s strategic focus towards suburban development and disciplined capital allocation. The company is also reducing its exposure in Houston from 13% to a target range of 6%-9% of NOI. Camden Property Trust’s recent developments underscore the dynamic nature of the real estate investment sector, with companies continually adapting to market conditions and regulatory changes.
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