Camden Property Trust Downgraded to Sell by StockNews.com

Camden Property Trust (NYSE:CPT) has recently faced a downgrade from analysts at StockNews.com, who have shifted their rating from "hold" to "sell" in a report that was released on Friday.

In addition to StockNews.com, a variety of research firms have shared their views on Camden Property Trust (CPT). Deutsche Bank Aktiengesellschaft made a notable move, increasing their price target for the stock from $90.00 to $115.00 while maintaining a "hold" rating in a report dated September 10. Meanwhile, Royal Bank of Canada adjusted their rating from "outperform" to "sector perform," setting a price objective of $122.00 for the stock on September 9.

On October 11, Jefferies Financial Group initiated coverage on Camden Property Trust and assigned it a "hold" rating along with a target price of $123.00. Notably, Bank of America upgraded Camden shares from an "underperform" rating to a "buy" rating, raising their price target from $111.00 to $147.00 in an August report. Additionally, Wells Fargo & Company upgraded the rating from "underweight" to "equal weight," increasing their price objective from $104.00 to $127.00.

The overall sentiment from analysts shows that one has given a sell rating, fourteen have given a hold rating, and five analysts have assigned a buy rating to Camden Property Trust's stock. The consensus rating for the stock currently stands at "Hold," with an average price target of approximately $121.76, according to MarketBeat.

Performance Overview of Camden Property Trust

As of Friday, shares of Camden Property Trust traded down by $2.06 to hit $113.73. The trading volume for the day reached 2,376,625 shares, which is significantly higher than the average trading volume of 992,370 shares. The company's market capitalization is estimated at $12.13 billion, and it has a price-to-earnings ratio of 31.24.

Financially, Camden Property Trust reported a debt-to-equity ratio of 0.72, a quick ratio of 0.37, and a current ratio also of 0.37. Over the past year, the stock has seen a low of $85.30 and a high of $127.69. The 50-day moving average is currently $122.21, while the 200-day moving average stands at $113.12.

In their last quarterly earnings report released on August 1, Camden Property Trust reported earnings per share of $0.40, which was below the consensus estimate of $1.67 by a margin of $1.27. They achieved a net revenue of $387.15 million during that quarter, slightly exceeding the projected revenue of $384.76 million.

Institutional Investor Trends

Recently, there has been notable activity among institutional investors regarding Camden Property Trust stocks. During the second quarter, Kings Path Partners LLC acquired a new stake valued at $33,000, while Federated Hermes Inc. also purchased a position worth around $33,000. Family Firm Inc. entered a new position valued at approximately $39,000. Versant Capital Management made a significant move by increasing their stake in Camden by 2,187.5%, now owning 366 shares. This acquisition brought their holdings to a value of $40,000.

Additionally, American Capital Advisory LLC raised its holdings in Camden Property Trust by 42.7% in the third quarter, owning 428 shares now valued at $53,000 after making an extra purchase of 128 shares during the period. Currently, institutional investors hold around 97.22% of the stock.

About Camden Property Trust

Camden Property Trust is a prominent entity in the real estate sector, primarily focused on owning, managing, and developing multifamily apartment communities across the United States. The company operates 172 properties and manages a total of 58,250 apartment homes.

Camden, Property, Trust