Camden Property Trust (NYSE:CPT) Downgraded by Zacks Investment Research to Hold

Camden Property Trust (NYSE:CPTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Camden Property Trust is one of the largest publicly traded multifamily companies in the United States. Structured as a Real Estate Investment Trust (REIT), the company is engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. “

A number of other brokerages also recently issued reports on CPT. Piper Sandler cut their price target on shares of Camden Property Trust from $195.00 to $180.00 in a report on Wednesday, May 4th. Mizuho dropped their target price on shares of Camden Property Trust from $179.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, February 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Camden Property Trust from $200.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, March 24th. Barclays dropped their target price on shares of Camden Property Trust from $193.00 to $174.00 in a report on Tuesday, May 10th. Finally, TheStreet upgraded shares of Camden Property Trust from a “c+” rating to a “b” rating in a report on Thursday, February 3rd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $170.57.

Shares of CPT traded down $1.10 during trading hours on Friday, reaching $143.56. The company had a trading volume of 616,253 shares, compared to its average volume of 1,150,800. The firm has a 50 day simple moving average of $155.98 and a 200-day simple moving average of $163.20. The company has a current ratio of 5.55, a quick ratio of 5.55 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 42.60, a PEG ratio of 4.04 and a beta of 0.78. Camden Property Trust has a 12-month low of $128.45 and a 12-month high of $180.37.

Camden Property Trust (NYSE:CPTGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($1.07). The company had revenue of $311.36 million during the quarter, compared to analysts’ expectations of $308.90 million. Camden Property Trust had a net margin of 29.75% and a return on equity of 8.67%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 EPS. Sell-side analysts forecast that Camden Property Trust will post 6.5 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPT. First Trust Advisors LP boosted its position in shares of Camden Property Trust by 44.7% in the first quarter. First Trust Advisors LP now owns 37,445 shares of the real estate investment trust’s stock worth $3,801,000 after acquiring an additional 11,574 shares during the last quarter. Morgan Stanley lifted its position in Camden Property Trust by 124.2% during the second quarter. Morgan Stanley now owns 299,467 shares of the real estate investment trust’s stock valued at $39,731,000 after buying an additional 165,887 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in Camden Property Trust by 9.5% during the third quarter. Gamco Investors INC. ET AL now owns 23,058 shares of the real estate investment trust’s stock valued at $3,400,000 after buying an additional 2,004 shares in the last quarter. HighTower Advisors LLC lifted its position in Camden Property Trust by 2.8% during the third quarter. HighTower Advisors LLC now owns 13,423 shares of the real estate investment trust’s stock valued at $1,977,000 after buying an additional 360 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in Camden Property Trust by 19.0% during the third quarter. GSA Capital Partners LLP now owns 3,738 shares of the real estate investment trust’s stock valued at $551,000 after buying an additional 598 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

About Camden Property Trust (Get Rating)

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.

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