Camden Property Trust (NYSE:CPT) Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen raised Camden Property Trust from “strong sell” to “sell.” Overall, analysts maintain a “hold” consensus rating with an average price target of $111.62.
• Camden reported quarterly FFO of $1.71 per share, slightly above the $1.69 consensus estimate and up from $1.70 a year earlier.
• Revenue was $381.06 million, below expectations of $384.88 million and down 3.7% year over year; Camden forecast fourth-quarter core FFO of $1.63–$1.67 per share.

Camden Property Trust (NYSE:CPT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts also recently commented on the stock. Barclays reduced their target price on shares of Camden Property Trust from $123.00 to $114.00 and set an "equal weight" rating for the company in a report on Wednesday, October 14th. Cantor Fitzgerald boosted their target price on shares of Camden Property Trust from $102.00 to $111.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Wells Fargo & Company decreased their price target on Camden Property Trust from $110.00 to $103.00 and set an "equal weight" rating for the company in a research note on Monday, October 19th. Truist Financial decreased their price target on shares of Camden Property Trust from $123.00 to $108.00 and set a "buy" rating for the company in a research note on Friday, September 25th. Finally, Stifel Nicolaus set a $123.25 price target on shares of Camden Property Trust in a research report on Friday, July 31st. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $111.62.

Camden Property Trust Price Performance

Shares of Camden Property Trust stock opened at $99.83 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.25. The firm has a fifty day simple moving average of $100.55 and a 200-day simple moving average of $105.83. Camden Property Trust has a 1-year low of $95.30 and a 1-year high of $119.81. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 7.56 and a beta of 0.75.

Camden Property Trust (NYSE:CPT - Get Free Report) last issued its earnings results on Thursday, November 5th. The real estate investment trust reported $1.71 EPS for the quarter, beating the consensus estimate of $1.69 by $0.02. Camden Property Trust had a net margin of 20.80% and a return on equity of 7.66%. The company had revenue of $381.06 million for the quarter, compared to the consensus estimate of $384.88 million. During the same quarter in the previous year, the company earned $1.70 EPS. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Camden Property Trust will post 6.76 earnings per share for the current year.

Institutional Trading of Camden Property Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Maverick Capital Ltd. grew its stake in shares of Camden Property Trust by 1.6% in the 1st quarter. Maverick Capital Ltd. now owns 1,867,866 shares of the real estate investment trust's stock valued at $182,416,000 after buying an additional 30,076 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Camden Property Trust by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,598,671 shares of the real estate investment trust's stock worth $156,128,000 after purchasing an additional 37,456 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Camden Property Trust by 120.5% during the third quarter. Russell Investments Group Ltd. now owns 1,463,966 shares of the real estate investment trust's stock worth $141,609,000 after buying an additional 800,168 shares during the last quarter. Jennison Associates LLC grew its position in Camden Property Trust by 100.2% in the 1st quarter. Jennison Associates LLC now owns 1,206,854 shares of the real estate investment trust's stock worth $117,861,000 after purchasing an additional 603,997 shares during the last quarter. Finally, Aew Capital Management Inc. acquired a new stake in shares of Camden Property Trust during the 3rd quarter worth approximately $85,702,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Camden Property Trust News Summary

Here are the key news stories impacting Camden Property Trust this week:

• Positive Sentiment: Q3 funds from operations (FFO) were $1.71 per share, topping the $1.69 consensus and rising from $1.70 a year earlier. The company also cited improving leasing trends and lower property expenses. Camden Property's Q3 FFO Beats Estimates as Leasing Trends Improve
• Neutral Sentiment: Camden forecast Q4 core FFO of $1.63–$1.67 per share; the available report did not provide a comparable analyst estimate to gauge whether the outlook is above or below expectations. Camden Property Trust Q4 Core FFO Guidance
• Negative Sentiment: Revenue was $381.06 million, below analysts’ $384.88 million estimate and down 3.7% year over year. Reports also flagged weakness in same-property NOI, tempering the FFO beat and raising concerns about operating momentum. Camden Property Q3 FFO Higher, Revenue Lower; Issues Guidance

About Camden Property Trust

Camden Property Trust NYSE: CPT is a real estate investment trust that owns, develops, acquires, and manages multifamily apartment communities. The company provides rental housing to individuals and families through a portfolio of communities offering a range of apartment layouts, amenities, and resident services.

Camden focuses primarily on high-growth markets in the Sun Belt, including metropolitan areas in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, and Tennessee. Its communities are generally located in major urban and suburban markets and are managed through the company's in-house property management platform.

Founded in 1993 and headquartered in Houston, Texas, Camden Property Trust has expanded through apartment development, acquisitions, and ongoing property renovations.

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