Camden Property Trust (NYSE:CPT) Downgraded by Zacks Investment Research to Hold
Camden Property Trust (NYSE:CPT – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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. “
Several other analysts have also issued reports on CPT. TheStreet upgraded shares of Camden Property Trust from a “c+” rating to a “b” rating in a research report on Thursday, February 3rd. Truist Financial dropped their target price on shares of Camden Property Trust from $186.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. Scotiabank dropped their target price on shares of Camden Property Trust from $179.00 to $171.00 in a research report on Thursday, May 19th. Mizuho dropped their target price on shares of Camden Property Trust from $179.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 16th. Finally, Piper Sandler lowered their price target on shares of Camden Property Trust from $195.00 to $180.00 in a research report on Wednesday, May 4th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $170.57.
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CPT traded down $1.10 on Friday, reaching $143.56. The stock had a trading volume of 616,253 shares, compared to its average volume of 1,150,800. Camden Property Trust has a 12-month low of $128.45 and a 12-month high of $180.37. 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 business’s 50-day moving average price is $155.98 and its two-hundred day moving average price is $163.20. The company has a market cap of $15.29 billion, a P/E ratio of 42.60, a price-to-earnings-growth ratio of 4.04 and a beta of 0.78.
Camden Property Trust (NYSE:CPT – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($1.07). Camden Property Trust had a net margin of 29.75% and a return on equity of 8.67%. The firm had revenue of $311.36 million during the quarter, compared to analysts’ expectations of $308.90 million. During the same period in the previous year, the firm posted $1.24 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, analysts predict that Camden Property Trust will post 6.5 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in CPT. Cohen & Steers Inc. purchased a new stake in shares of Camden Property Trust in the 1st quarter valued at approximately $1,220,455,000. Norges Bank purchased a new stake in Camden Property Trust during the 4th quarter worth approximately $409,197,000. Daiwa Securities Group Inc. increased its stake in Camden Property Trust by 2,916.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 1,130,502 shares of the real estate investment trust’s stock worth $187,889,000 after buying an additional 1,093,029 shares during the period. BlackRock Inc. increased its stake in Camden Property Trust by 6.5% during the 4th quarter. BlackRock Inc. now owns 12,700,923 shares of the real estate investment trust’s stock worth $2,269,400,000 after buying an additional 775,072 shares during the period. Finally, State Street Corp increased its stake in Camden Property Trust by 9.8% during the 1st quarter. State Street Corp now owns 6,066,515 shares of the real estate investment trust’s stock worth $1,013,817,000 after buying an additional 540,683 shares during the period. 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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