Camden Property Trust (NYSE:CPT) Upgraded at StockNews.com

by · The Cerbat Gem

Camden Property Trust (NYSE:CPT – Get Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $117.00 to $139.00 in a research report on Monday, March 10th. Stifel Nicolaus upped their price objective on shares of Camden Property Trust from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Mizuho cut their target price on Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Scotiabank upped their target price on Camden Property Trust from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $127.19.

Check Out Our Latest Research Report on CPT

Camden Property Trust Price Performance

Shares of CPT traded down $0.58 during midday trading on Tuesday, hitting $119.55. 632,594 shares of the company traded hands, compared to its average volume of 857,189. The stock has a 50-day moving average of $117.06 and a 200-day moving average of $119.35. Camden Property Trust has a one year low of $94.75 and a one year high of $127.69. The firm has a market cap of $12.76 billion, a P/E ratio of 79.70, a PEG ratio of 4.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.14 and a quick ratio of 0.15.

Camden Property Trust (NYSE:CPT – Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. As a group, sell-side analysts predict that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Insider Activity at Camden Property Trust

In other Camden Property Trust news, Director Heather J. Brunner sold 264 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total transaction of $29,055.84. Following the completion of the transaction, the director now owns 10,273 shares of the company’s stock, valued at approximately $1,130,646.38. This trade represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Alexander J. Jessett sold 1,862 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $204,931.72. Following the transaction, the chief financial officer now directly owns 122,384 shares of the company’s stock, valued at $13,469,583.04. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,548 shares of company stock worth $2,912,212 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Camden Property Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SMART Wealth LLC purchased a new position in Camden Property Trust during the third quarter valued at $829,000. Nordea Investment Management AB raised its position in shares of Camden Property Trust by 15.0% in the 4th quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock worth $11,339,000 after purchasing an additional 12,805 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Camden Property Trust by 3.2% in the 3rd quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock worth $23,174,000 after purchasing an additional 5,985 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Camden Property Trust by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock worth $66,563,000 after purchasing an additional 51,097 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its position in shares of Camden Property Trust by 7.7% in the 4th quarter. Atomi Financial Group Inc. now owns 2,335 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Company Profile

(Get Free Report)

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.

Further Reading