Camden Property Belief govt sells shares price over $1.7 million

HOUSTON—Jessett Alexander J., President and Chief Monetary Officer of Camden Property Belief (NYSE:CPT), a $12 billion market cap actual property funding belief with a GOOD monetary well being rating based on InvestingPro, lately carried out important inventory transactions, based on a submitting with the Securities and Trade Fee. On January 6 and January 8, Jessett bought a complete of 14,929 widespread shares of the true property funding belief.

The transactions, executed at costs starting from $110.059 to $114.505 per share, culminated in a complete worth of roughly $1,701,166. Following these gross sales, Jessett retains possession of 122,384 shares within the firm.

The shares had been a part of an govt deferred compensation plan, with the sale executed following an irrevocable election made by Jessett in December 2024, in compliance with Part 409A of the Inner Income Code. For deeper insights into Camden Property Belief’s monetary well being and valuation metrics, entry the excellent Professional Analysis Report out there solely on InvestingPro.

In different latest information, Camden Property Belief has been a spotlight of each authorized and monetary developments. The U.S. Justice Division has expanded its antitrust lawsuit in opposition to RealPage Inc., now together with Camden Property Belief, amongst others, in allegations of a collective pricing scheme. Within the monetary sector, each JPMorgan and Stifel have downgraded the corporate’s inventory on account of considerations about its near-term development prospects. RBC Capital Markets additionally adjusted its outlook on Camden Property Belief by decreasing the value goal.

Regardless of these challenges, Camden Property Belief reported strong third-quarter outcomes for 2024, surpassing earnings expectations with core funds from operations (FFO) reaching $1.71 per share. The corporate is shifting its strategic focus in the direction of suburban improvement, initiating $320 million in new tasks late in 2024, with an extra $375 million anticipated to start out in early 2025.

These are the latest developments surrounding Camden Property Belief, indicating a interval of serious change and adaptation for the corporate.

This text was generated with the help of AI and reviewed by an editor. For extra info see our T&C.