(To read more on the multifamily market, click here.)
HOUSTON-Camden Property Trust's plan to buy back up to $250million of its common shares didn't surprise analysts. REIT expertsbelieve the buyback will be used to increase stock value and trimthe local company's portfolio.
According to a press release, the multifamily REIT will acquireshares through open market purchases, block purchases and privatelynegotiated transactions at no specific time or amount. The companysays it plans to fund share repurchases with proceeds from assetsales and borrowings under its unsecured line of credit.
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