Royal Bank of Canada Downgrades Camden Property Trust (NYSE:CPT) to Sector Perform

Camden Property Trust (NYSE:CPT) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Monday, Marketbeat reports. They currently have a $122.00 target price on the real estate investment trust’s stock. Royal Bank of Canada’s target price indicates a potential downside of 0.95% from the stock’s previous close.

A number of other research analysts have also recently issued reports on CPT. Scotiabank lifted their target price on Camden Property Trust from $116.00 to $125.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Morgan Stanley lifted their price target on Camden Property Trust from $98.00 to $105.50 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Evercore ISI lifted their price target on Camden Property Trust from $110.00 to $115.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Wedbush lifted their price target on Camden Property Trust from $118.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Piper Sandler lifted their price objective on Camden Property Trust from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $119.74.

Camden Property Trust Stock Up 1.5 %

Shares of NYSE CPT opened at $123.17 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.37 and a current ratio of 0.37. Camden Property Trust has a 52 week low of $82.81 and a 52 week high of $127.23. The stock has a market capitalization of $13.13 billion, a P/E ratio of 30.19, a PEG ratio of 4.59 and a beta of 0.90. The stock’s fifty day moving average is $116.72 and its 200 day moving average is $107.10.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. The company had revenue of $387.15 million during the quarter, compared to the consensus estimate of $384.76 million. During the same quarter in the previous year, the business posted $1.70 EPS. Sell-side analysts forecast that Camden Property Trust will post 6.77 earnings per share for the current fiscal year.

Institutional Trading of Camden Property Trust

Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Camden Property Trust by 16.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191,374 shares of the real estate investment trust’s stock worth $18,831,000 after purchasing an additional 27,465 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Camden Property Trust by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 160,309 shares of the real estate investment trust’s stock worth $15,781,000 after acquiring an additional 5,926 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in Camden Property Trust by 59.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 18,831 shares of the real estate investment trust’s stock worth $1,853,000 after acquiring an additional 7,018 shares during the last quarter. Pinebridge Investments L.P. bought a new position in Camden Property Trust in the 4th quarter worth about $1,374,000. Finally, Eminence Capital LP bought a new position in Camden Property Trust in the 4th quarter worth about $18,737,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

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 58,634 apartment homes across the United States.