Zacks Investment Research downgraded shares of Camden Property Trust (NYSE:CPT) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, 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 brokerages have also recently issued reports on CPT. Citigroup boosted their price target on Camden Property Trust from $100.00 to $109.00 and gave the company a neutral rating in a research report on Tuesday, July 30th. SunTrust Banks boosted their price target on Camden Property Trust to $108.00 and gave the company a buy rating in a research report on Thursday, June 13th. Zelman & Associates upgraded Camden Property Trust from a sell rating to a hold rating in a research report on Monday, August 12th. KeyCorp boosted their price target on Camden Property Trust from $105.00 to $112.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Finally, DA Davidson cut Camden Property Trust from a buy rating to a neutral rating in a research report on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Camden Property Trust has an average rating of Buy and a consensus target price of $104.00.

Shares of CPT traded down $1.02 during midday trading on Thursday, reaching $107.95. 8,550 shares of the stock were exchanged, compared to its average volume of 433,401. The business’s 50-day moving average price is $106.73 and its 200 day moving average price is $103.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.94 and a quick ratio of 0.94. Camden Property Trust has a twelve month low of $83.67 and a twelve month high of $111.00. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 3.16 and a beta of 0.43.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.84). The firm had revenue of $255.76 million for the quarter, compared to analyst estimates of $252.76 million. Camden Property Trust had a return on equity of 4.48% and a net margin of 16.05%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. As a group, equities research analysts expect that Camden Property Trust will post 5.09 earnings per share for the current fiscal year.

In other Camden Property Trust news, Director William B. Mcguire sold 1,979 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $104.12, for a total transaction of $206,053.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO H Malcolm Stewart sold 16,200 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $107.17, for a total value of $1,736,154.00. Following the transaction, the chief operating officer now owns 149,537 shares in the company, valued at approximately $16,025,880.29. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new position in Camden Property Trust during the 2nd quarter worth approximately $26,000. HM Payson & Co. purchased a new stake in shares of Camden Property Trust during the 2nd quarter worth approximately $49,000. Icon Wealth Partners LLC purchased a new stake in shares of Camden Property Trust during the 1st quarter worth approximately $52,000. Penserra Capital Management LLC purchased a new stake in shares of Camden Property Trust during the 1st quarter worth approximately $58,000. Finally, Machina Capital S.A.S. purchased a new stake in shares of Camden Property Trust during the 2nd quarter worth approximately $62,000. Institutional investors own 93.41% of the company’s stock.

About Camden Property Trust

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.

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