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Camden Trust Aims To Raise Capital, Slash Dividend

Stock quotes in this article: CPT  

HOUSTON (AP) — Real estate investment trust Camden Property Trust said Wednesday it was pricing a public offering of 9 million new common shares at $27.50 apiece.

The company said it hopes to raise $236.7 million with the share issuance, which it intends to use to retire debt and for general corporate purposes.

It said its underwriters, Merrill Lynch & Co. and J.P. Morgan, will have a 30-day option to obtain 1.35 million additional shares if there is excess demand. ...

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