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

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

CPT has been the topic of a number of other reports. Citigroup raised Camden Property Trust from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $125.00 to $138.00 in a research note on Friday, March 28th. Stifel Nicolaus raised their price objective on Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a report on Friday, February 7th. Mizuho dropped their target price on shares of Camden Property Trust from $130.00 to $122.00 and set an “outperform” rating for the company in a report on Friday. Royal Bank of Canada increased their target price on shares of Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Finally, Truist Financial set a $131.00 price target on shares of Camden Property Trust and gave the stock a “buy” rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $129.78.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $113.13 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. The firm has a fifty day moving average of $115.77 and a 200 day moving average of $117.39. The firm has a market cap of $12.09 billion, a PE ratio of 75.42, a PEG ratio of 4.41 and a beta of 0.79. Camden Property Trust has a one year low of $98.35 and a one year high of $127.69.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.04. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. The business had revenue of $390.57 million for the quarter, compared to analyst estimates of $388.47 million. During the same quarter last year, the business earned $1.70 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts predict that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven A. Webster sold 1,200 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the completion of the transaction, the director now directly owns 117,374 shares in the company, valued at approximately $13,939,336.24. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard J. Campo sold 5,572 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total transaction of $665,854.00. Following the completion of the sale, the chief executive officer now owns 289,720 shares in the company, valued at approximately $34,621,540. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,907 shares of company stock valued at $824,860 over the last quarter. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Camden Property Trust

Large investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in Camden Property Trust by 45.4% during the third quarter. Barclays PLC now owns 407,784 shares of the real estate investment trust’s stock worth $50,371,000 after purchasing an additional 127,358 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Camden Property Trust by 76.6% in the fourth quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 98 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Camden Property Trust by 117.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 382 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 206 shares during the period. Atomi Financial Group Inc. lifted its stake in Camden Property Trust by 7.7% during the 4th quarter. Atomi Financial Group Inc. now owns 2,335 shares of the real estate investment trust’s stock worth $271,000 after acquiring an additional 166 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Camden Property Trust by 8.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,106 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 168 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Camden Property Trust Company Profile

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.