Today, The Zacks Investment Research Downgrade Camden Property Trust (CPT) to Hold

Today, The Zacks Investment Research Downgrade Camden Property Trust (CPT) to Hold

Camden Property Trust (NYSE:CPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “CAMDEN PROPERTY TRUST is a self-administered and self-managed real estate investment trust that is engaged in the ownership, development, acquisition, management, marketing and disposition of multi-family apartment communities in the Southwest and Mountain regions of the United States. “

Several other analysts also recently commented on the stock. Mizuho downgraded shares of Camden Property Trust from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $92.00 to $93.00 in a research report on Monday, August 1st. Robert W. Baird downgraded shares of Camden Property Trust from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $83.00 to $88.00 in a research report on Wednesday, August 10th. Citigroup Inc. raised their price objective on shares of Camden Property Trust from $87.00 to $88.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. RBC Capital Markets reaffirmed a “buy” rating on shares of Camden Property Trust in a research report on Monday, August 29th. Finally, Barclays PLC raised their price objective on shares of Camden Property Trust from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, August 12th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $87.00.

Shares of Camden Property Trust (NYSE:CPT) opened at 77.72 on Wednesday. The firm’s 50-day moving average is $78.59 and its 200 day moving average is $84.22. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 8.38 and a beta of 0.43. 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 released its quarterly earnings results on Thursday, October 27th. The real estate investment trust reported $1.13 earnings per share (EPS) 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 earned $220.20 million during the quarter, compared to analyst estimates of $218.51 million. During the same quarter last year, the business earned $0.91 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Camden Property Trust will post $4.61 earnings per share for the current year.

In other news, Director William B. Mcguire sold 2,124 shares of Camden Property Trust stock in a transaction on Monday, November 7th. The stock was sold at an average price of $81.76, for a total transaction of $173,658.24. Following the sale, the director now directly owns 2,015 shares in the company, valued at approximately $164,746.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William W. Sengelmann sold 5,878 shares of Camden Property Trust stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $85.56, for a total value of $502,921.68. Following the sale, the executive vice president now owns 78,689 shares in the company, valued at $6,732,630.84. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Security Capital Research & Management Inc. boosted its stake in Camden Property Trust by 9.8% in the third quarter. Security Capital Research & Management Inc. now owns 1,675 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 150 shares during the last quarter. Investment Counselors of Maryland LLC boosted its stake in shares of Camden Property Trust by 6.4% in the second quarter. Investment Counselors of Maryland LLC now owns 1,660 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 100 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Camden Property Trust by 2.8% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 2,213 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 61 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Camden Property Trust during the second quarter worth about $187,000. Finally, Bard Associates Inc. purchased a new stake in shares of Camden Property Trust during the second quarter worth about $204,000. Institutional investors own 96.55% of the company’s stock.

About Camden Property Trust

Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. The Company operates in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities segment.

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