Wall Street Zen Upgrades Camden Property Trust (NYSE:CPT) to Sell

Camden Property Trust (NYSE:CPT) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

CPT has been the subject of a number of other research reports. Royal Bank Of Canada cut their price target on Camden Property Trust from $111.00 to $101.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 13th. JPMorgan Chase & Co. increased their price objective on Camden Property Trust from $113.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Wells Fargo & Company dropped their target price on Camden Property Trust from $110.00 to $103.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. Scotiabank dropped their target price on Camden Property Trust from $109.00 to $102.00 and set a “sector underperform” rating on the stock in a report on Thursday, September 17th. Finally, Piper Sandler cut their target price on Camden Property Trust from $119.00 to $102.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $111.62.

Camden Property Trust Stock Up 0.4%

Shares of NYSE CPT opened at $99.83 on Friday. The stock has a market capitalization of $10.04 billion, a P/E ratio of 9.30, a P/E/G ratio of 7.40 and a beta of 0.75. The company has a 50-day moving average price of $100.55 and a 200-day moving average price of $105.83. Camden Property Trust has a 1 year low of $95.30 and a 1 year high of $119.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.82 and a quick ratio of 0.18.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, November 5th. The real estate investment trust reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. Camden Property Trust had a net margin of 71.94% and a return on equity of 26.22%. The company had revenue of $381.06 million for the quarter, compared to analyst estimates of $384.88 million. During the same quarter in the prior year, the business posted $1.70 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts forecast that Camden Property Trust will post 6.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Camden Property Trust

Several large investors have recently made changes to their positions in CPT. Squarepoint Ops LLC increased its position in Camden Property Trust by 3,804.2% in the second quarter. Squarepoint Ops LLC now owns 107,327 shares of the real estate investment trust’s stock worth $12,288,000 after buying an additional 104,578 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Camden Property Trust by 80,855.8% in the third quarter. IFP Advisors Inc now owns 62,336 shares of the real estate investment trust’s stock valued at $6,030,000 after buying an additional 62,259 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of Camden Property Trust by 908.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 51,758 shares of the real estate investment trust’s stock valued at $5,007,000 after buying an additional 46,626 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Camden Property Trust by 907.5% during the 3rd quarter. Sterling Capital Management LLC now owns 29,862 shares of the real estate investment trust’s stock valued at $2,889,000 after buying an additional 26,898 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its position in shares of Camden Property Trust by 4,821.7% during the 3rd quarter. Evergreen Capital Management LLC now owns 171,914 shares of the real estate investment trust’s stock valued at $16,629,000 after buying an additional 168,421 shares during the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust News Roundup

Here are the key news stories impacting Camden Property Trust this week:

• Positive Sentiment: Q3 funds from operations (FFO) were $1.71 per share, topping the $1.69 consensus and rising from $1.70 a year earlier. The company also cited improving leasing trends and lower property expenses. Camden Property’s Q3 FFO Beats Estimates as Leasing Trends Improve
• Neutral Sentiment: Camden forecast Q4 core FFO of $1.63–$1.67 per share; the available report did not provide a comparable analyst estimate to gauge whether the outlook is above or below expectations. Camden Property Trust Q4 Core FFO Guidance
• Negative Sentiment: Revenue was $381.06 million, below analysts’ $384.88 million estimate and down 3.7% year over year. Reports also flagged weakness in same-property NOI, tempering the FFO beat and raising concerns about operating momentum. Camden Property Q3 FFO Higher, Revenue Lower; Issues Guidance

About Camden Property Trust

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas.

Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.