Todays Report: The Camden Property Trust (CPT) Upgraded to Buy at Bank of America Corp.

The Camden Property Trust (CPT) Upgraded to Buy at Bank of America Corp.

Bank of America Corp. upgraded shares of Camden Property Trust (NYSE:CPT) from a neutral rating to a buy rating in a report issued on Wednesday. The brokerage currently has $91.00 target price on the real estate investment trust’s stock.

CPT has been the subject of a number of other research reports. RBC Capital Markets restated a buy rating on shares of Camden Property Trust in a report on Monday, August 29th. Zacks Investment Research lowered Camden Property Trust from a buy rating to a hold rating in a report on Wednesday, November 16th. Citigroup Inc. increased their price objective on Camden Property Trust from $87.00 to $88.00 and gave the stock a neutral rating in a report on Thursday, August 4th. BTIG Research initiated coverage on Camden Property Trust in a report on Thursday, August 25th. They set a neutral rating for the company. Finally, Robert W. Baird lowered Camden Property Trust from an outperform rating to a neutral rating and increased their price objective for the stock from $83.00 to $88.00 in a report on Wednesday, August 10th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $87.31.

Camden Property Trust (NYSE:CPT) opened at 78.34 on Wednesday. Camden Property Trust has a one year low of $69.76 and a one year high of $90.91. The stock has a market cap of $6.85 billion, a P/E ratio of 8.45 and a beta of 0.43. The company has a 50-day moving average price of $78.60 and a 200-day moving average price of $84.16.

Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, October 27th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. The company earned $220.20 million during the quarter, compared to analyst estimates of $218.51 million. Camden Property Trust had a return on equity of 15.12% and a net margin of 94.44%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, analysts anticipate that Camden Property Trust will post $4.62 earnings per share for the current year.

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

A number of large investors have recently added to or reduced their stakes in CPT. ETRADE Capital Management LLC acquired a new position in shares of Camden Property Trust during the third quarter worth approximately $221,000. Price T Rowe Associates Inc. MD boosted its position in shares of Camden Property Trust by 1.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,849,547 shares of the real estate investment trust’s stock worth $238,621,000 after buying an additional 38,166 shares in the last quarter. Credit Suisse AG boosted its position in shares of Camden Property Trust by 6.2% in the third quarter. Credit Suisse AG now owns 390,689 shares of the real estate investment trust’s stock worth $32,718,000 after buying an additional 22,857 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Camden Property Trust by 40.8% in the third quarter. Ameritas Investment Partners Inc. now owns 43,442 shares of the real estate investment trust’s stock worth $3,637,000 after buying an additional 12,586 shares in the last quarter. Finally, Phocas Financial Corp. boosted its position in shares of Camden Property Trust by 19.0% in the third quarter. Phocas Financial Corp. now owns 5,900 shares of the real estate investment trust’s stock worth $494,000 after buying an additional 940 shares in the last quarter. 96.55% of the stock is currently owned by institutional investors and hedge funds.

Camden Property Trust Company Profile

Related posts

Leave a Comment