Camden Property Trust (NYSE:CPT) Rating Lowered to Neutral at Bank of America

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Bank of America lowered shares of Camden Property Trust (NYSE:CPT) from a buy rating to a neutral rating in a report published on Thursday morning, Briefing.com Automated Import reports. They currently have $118.00 target price on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on CPT. ValuEngine cut Camden Property Trust from a buy rating to a hold rating in a report on Wednesday, October 2nd. DA Davidson cut Camden Property Trust from a buy rating to a neutral rating in a report on Tuesday, July 23rd. KeyCorp lifted their price objective on Camden Property Trust from $112.00 to $117.00 and gave the stock an overweight rating in a report on Tuesday, October 8th. Zelman & Associates raised Camden Property Trust from a sell rating to a hold rating in a report on Monday, August 12th. Finally, Zacks Investment Research cut Camden Property Trust from a buy rating to a hold rating in a report on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $112.29.

CPT stock traded down $0.15 during midday trading on Thursday, hitting $110.12. 326,227 shares of the stock were exchanged, compared to its average volume of 489,332. The stock’s 50-day moving average price is $112.64 and its 200-day moving average price is $107.13. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 3.22 and a beta of 0.39. Camden Property Trust has a fifty-two week low of $83.67 and a fifty-two week high of $116.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 0.76.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.84). The firm had revenue of $260.67 million for the quarter, compared to analyst estimates of $259.56 million. Camden Property Trust had a return on equity of 4.53% and a net margin of 16.22%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 earnings per share. Research analysts anticipate that Camden Property Trust will post 5.02 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.91%. Camden Property Trust’s dividend payout ratio (DPR) is 67.09%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPT. First Trust Advisors LP raised its holdings in shares of Camden Property Trust by 44.7% in the first quarter. First Trust Advisors LP now owns 37,445 shares of the real estate investment trust’s stock worth $3,801,000 after acquiring an additional 11,574 shares during the last quarter. Eii Capital Management Inc. raised its holdings in shares of Camden Property Trust by 10.2% in the second quarter. Eii Capital Management Inc. now owns 15,116 shares of the real estate investment trust’s stock worth $1,578,000 after acquiring an additional 1,399 shares during the last quarter. WINTON GROUP Ltd raised its holdings in shares of Camden Property Trust by 8.8% in the second quarter. WINTON GROUP Ltd now owns 340,288 shares of the real estate investment trust’s stock worth $35,523,000 after acquiring an additional 27,575 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of Camden Property Trust by 7.0% in the second quarter. Retirement Systems of Alabama now owns 269,353 shares of the real estate investment trust’s stock worth $28,118,000 after acquiring an additional 17,560 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Camden Property Trust in the second quarter worth $354,000. 93.56% of the stock is owned by institutional investors.

Camden Property Trust Company Profile

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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Analyst Recommendations for Camden Property Trust (NYSE:CPT)

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