Today, Bank of America Corp. Upgraded Camden Property Trust (CPT) to Buy

Today, Bank of America Corp. Upgraded Camden Property Trust (CPT) to Buy
Camden Property Trust (NYSE:CPT) was upgraded by analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Tuesday. Barclays PLC restated a “buy” rating and set a $89.00 price target on shares of Camden Property Trust in a report on Monday, November 14th. Citigroup Inc. lowered their price target on shares of Camden Property Trust from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, September 30th. RBC Capital Markets restated a “buy” rating on shares of Camden Property Trust in a report on Monday, August 29th. Finally, BTIG Research began coverage on shares of Camden Property Trust in a report on Thursday, August 25th. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $87.00.

Shares of Camden Property Trust (NYSE:CPT) opened at 77.72 on Wednesday. The firm has a market capitalization of $6.80 billion, a P/E ratio of 8.38 and a beta of 0.43. The stock’s 50 day moving average price is $78.59 and its 200 day moving average price is $84.22. Camden Property Trust has a 52 week low of $69.76 and a 52 week high of $90.91.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. Camden Property Trust had a net margin of 94.44% and a return on equity of 15.12%. The firm had revenue of $220.20 million for the quarter, compared to analysts’ expectations of $218.51 million. During the same period in the previous year, the company posted $0.91 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Camden Property Trust will post $4.61 EPS for the current fiscal year.

In other news, COO H Malcolm Stewart sold 11,122 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $89.63, for a total transaction of $996,864.86. Following the completion of the transaction, the chief operating officer now owns 252,526 shares of the company’s stock, valued at $22,633,905.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William W. Sengelmann sold 5,878 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $85.56, for a total transaction of $502,921.68. Following the transaction, the executive vice president now directly owns 78,689 shares of the company’s stock, valued at approximately $6,732,630.84. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of Camden Property Trust by 19.5% in the second quarter. Bank of New York Mellon Corp now owns 2,835,096 shares of the real estate investment trust’s stock worth $250,679,000 after buying an additional 463,446 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Camden Property Trust by 817.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,614,404 shares of the real estate investment trust’s stock worth $231,166,000 after buying an additional 2,329,541 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Camden Property Trust by 296.4% in the first quarter. Renaissance Technologies LLC now owns 155,000 shares of the real estate investment trust’s stock worth $13,034,000 after buying an additional 115,900 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its position in shares of Camden Property Trust by 7.7% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 94,105 shares of the real estate investment trust’s stock worth $8,320,000 after buying an additional 6,701 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Camden Property Trust by 4.4% in the second quarter. Swiss National Bank now owns 401,500 shares of the real estate investment trust’s stock worth $35,501,000 after buying an additional 16,800 shares in the last quarter. 96.55% of the stock is owned by institutional investors and hedge funds.

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