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CPT Camden Property Trust

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States. Upon completion of 7 properties currently under development, the Company's portfolio will increase to 59,104 apartment homes in 174 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 13 consecutive years, most recently ranking #18. The Company also received a Glassdoor Employees' Choice Award in 2020, ranking #25 for large U.S. companies.

Company profile

CPT stock data

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Calendar

30 Jul 21
2 Aug 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 379.32M 379.32M 379.32M 379.32M 379.32M 379.32M
Cash burn (monthly) (positive/no burn) 18.86M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 21.35M n/a n/a n/a n/a
Cash remaining n/a 357.96M n/a n/a n/a n/a
Runway (months of cash) n/a 19.0 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
9 Jun 21 D Keith Oden Common Shares Sell Dispose S No No 133.2 27,079 3.61M 258,073
9 Jun 21 D Keith Oden Common Shares Sell Dispose S No No 133.37 23,537 3.14M 285,152
13 May 21 Gibson Mark Common Shares Grant Aquire A No No 0 1,693 0 4,365
13 May 21 Ingraham Scott S Common Shares Grant Aquire A No No 0 1,693 0 72,713
13 May 21 Khator Renu Common Shares Grant Aquire A No No 0 1,693 0 10,959
13 May 21 Brunner Heather J. Common Shares Grant Aquire A No No 0 1,693 0 10,107

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

93.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 405 402 +0.7%
Opened positions 45 52 -13.5%
Closed positions 42 37 +13.5%
Increased positions 139 124 +12.1%
Reduced positions 150 166 -9.6%
13F shares
Current Prev Q Change
Total value 11.17B 9.34B +19.6%
Total shares 90.97M 93.45M -2.7%
Total puts 66.2K 42.9K +54.3%
Total calls 42.3K 30.8K +37.3%
Total put/call ratio 1.6 1.4 +12.4%
Largest owners
Shares Value Change
Vanguard 13.92M $1.53B +1.7%
BLK Blackrock 11.87M $1.3B +0.1%
STT State Street 4.91M $544.08M -0.3%
JPM JPMorgan Chase & Co. 3.39M $372.14M -22.4%
TROW T. Rowe Price 2.83M $310.59M +28.7%
Capital World Investors 2.58M $283.6M 0.0%
Wellington Management 1.97M $216.23M -1.2%
PFG Principal Financial Group Inc - Registered Shares 1.73M $190.11M -41.6%
Long Pond Capital 1.66M $182.96M +24.1%
Dimensional Fund Advisors 1.53M $168.48M -2.8%
Largest transactions
Shares Bought/sold Change
PFG Principal Financial Group Inc - Registered Shares 1.73M -1.23M -41.6%
JPM JPMorgan Chase & Co. 3.39M -980.12K -22.4%
Norges Bank 0 -901.76K EXIT
MS Morgan Stanley 133.58K -791.66K -85.6%
Lasalle Investment Management Securities 793.11K +785.28K +10029.2%
PGGM Investments 0 -676.4K EXIT
CMTDF Sumitomo Mitsui Trust 1.17M +663.36K +132.0%
TROW T. Rowe Price 2.83M +629.42K +28.7%
JHG Janus Henderson 50.7K -524.23K -91.2%
Alliancebernstein 1.07M -513.39K -32.4%

Financial report summary

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Risks
  • Volatility in capital and credit markets, or other unfavorable changes in economic conditions, either nationally or regionally in one or more of the markets in which we operate, could adversely impact us.
  • Short-term leases expose us to the effects of declining market rents.
  • Competition could limit our ability to lease apartments or increase or maintain rental income.
  • We face risks associated with land holdings and related activities.
  • Development, redevelopment and construction risks could impact our profitability.
  • Investments through joint ventures and investment funds involve risks not present in investments in which we are the sole investor.
  • Our acquisition strategy may not produce the cash flows expected.
  • Failure to qualify as a REIT could have adverse consequences.
  • A cybersecurity incident and other technology disruptions could negatively impact our business.
  • We have significant debt, which could have adverse consequences.
  • Insufficient cash flows could limit our ability to make required payments for debt obligations or pay distributions to shareholders.
  • Issuances of additional debt may adversely impact our financial condition.
  • We may be unable to renew, repay, or refinance our outstanding debt.
  • Failure to maintain our current credit ratings could adversely affect our cost of funds, related margins, liquidity, and access to capital markets.
  • We may be adversely affected by changes in LIBOR reporting practices or the method in which LIBOR is determined.
  • Share ownership limits and our ability to issue additional equity securities may prevent takeovers beneficial to shareholders.
  • The form, timing and amount of dividend distributions in future periods may vary and be impacted by economic and other considerations.
  • Damage from catastrophic weather and other natural events could result in losses.
  • Our share price will fluctuate.
Management Discussion
  • Changes in revenues and expenses related to our operating properties from period to period are due primarily to the performance of stabilized properties in the portfolio, the lease-up of newly constructed properties, acquisitions, and dispositions. Selected weighted averages for the three and six months ended June 30, 2021 and 2020 are as follows:
  • (1)Includes approximately $9.1 million of Resident Relief Funds paid to residents at our wholly-owned communities who have experienced financial losses caused by the pandemic and was recorded as a reduction to property revenues during the three and six months ended June 30, 2020.
  • (2)Includes approximately $4.1 million of pandemic expenses at our operating communities, which included $2.8 million of bonuses paid to on-site employees who provided essential services during the pandemic and $1.3 million in other directly-related pandemic expenses during the three and six months ended June 30, 2020.
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