Camden Property Trust Downgraded by StockNews.com to Sell

Camden Property Trust (NYSE:CPT) has been downgraded by StockNews.com from a "hold" rating to a "sell" rating as indicated in a report released on Friday. This news has created noteworthy attention among investors and analysts alike.

Analysts' Opinions

In addition to StockNews.com's downgrade, several other research firms have also recently commented on Camden Property Trust. For instance, Deutsche Bank Aktiengesellschaft adjusted its target price for Camden from $90.00 to $115.00, maintaining a "hold" rating as of September 10th. Meanwhile, Royal Bank of Canada lowered its rating from "outperform" to "sector perform" with a price objective of $122.00 on September 9th. Additionally, Jefferies Financial Group started coverage on Camden shares on October 11th, providing a "hold" rating with a target price of $123.00. On August 12th, Bank of America upgraded the stock from an "underperform" rating to a "buy" rating, adjusting the target price from $111.00 to $147.00. Wells Fargo & Company also upgraded Camden from an "underweight" rating to "equal weight" with a new price objective of $127.00 on August 26th.

Current Ratings Summary

At present, one equity research analyst has assigned Camden Property Trust a sell rating. Moreover, fourteen analysts have issued a hold rating while five analysts have given the stock a buy rating. According to MarketBeat, the consensus rating for Camden Property Trust stands at "Hold" with an average price target of $121.76.

Recent Stock Performance

On Friday, the stock experienced a decline of $2.06 during trading, dropping to $113.73. There were 2,376,625 shares traded compared to the average volume of 992,370 shares. Camden Property Trust has a market capitalization of $12.13 billion, with a current debt-to-equity ratio of 0.72 and a price-to-earnings ratio of 31.24. The company also reported a price-to-earnings-growth ratio of 4.40 and has a beta of 0.90. Over the last year, the stock has reached a low of $85.30 and a high of $127.69.

Quarterly Financial Results

Camden Property Trust recently announced its quarterly earnings results on August 1st, reporting earnings of $0.40 per share. This figure fell short of the consensus estimate of $1.67 per share by $1.27. The company's returns on equity stood at 7.98%, with a net margin of 25.64%. For the quarter, Camden's revenue was recorded at $387.15 million, slightly exceeding the consensus expectation of $384.76 million. Analysts predict that Camden will post an average of 6.78 earnings per share for the current year.

Institutional Investor Activity

Recently, various institutional investors have adjusted their holdings in Camden Property Trust. Notably, Kings Path Partners LLC purchased a new stake valued at $33,000 in the second quarter. Federated Hermes Inc. similarly invested approximately $33,000 in Camden shares during the same period. Family Firm Inc. also acquired new holdings worth about $39,000 in Camden Property Trust. Versant Capital Management Inc. significantly boosted its stake by 2,187.5% in the second quarter. After purchasing an additional 350 shares, it now owns 366 shares valued at around $40,000. American Capital Advisory LLC reported a 42.7% increase in its position during the third quarter, owning 428 shares worth $53,000 after an additional purchase of 128 shares. Currently, approximately 97.22% of Camden's stock is owned by hedge funds and other institutional investors.

Company Overview

Camden Property Trust is recognized as an S&P 500 company primarily involved in the ownership, management, development, and construction of multifamily apartment communities. Currently, Camden operates 172 properties containing 58,250 apartment homes across the United States.

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