Zacks Investment Research downgraded shares of Camden Property Trust (NYSE:CPT) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “CAMDEN PROPERTY TRUST is a self-administered and self-managed real estate investment trust that is engaged in the ownership, development, acquisition, management, marketing and disposition of multi-family apartment communities in the Southwest and Mountain regions of the United States. “

CPT has been the topic of several other research reports. RBC Capital Markets reaffirmed a buy rating on shares of Camden Property Trust in a research note on Monday, August 29th. Bank of America Corp. raised Camden Property Trust from a neutral rating to a buy rating and set a $91.00 target price on the stock in a research note on Wednesday, November 23rd. Citigroup Inc. increased their target price on Camden Property Trust from $87.00 to $88.00 and gave the company a neutral rating in a research note on Thursday, August 4th. BTIG Research started coverage on Camden Property Trust in a research note on Thursday, August 25th. They issued a neutral rating on the stock. Finally, Robert W. Baird lowered Camden Property Trust from an outperform rating to a neutral rating and increased their target price for the company from $83.00 to $88.00 in a research note on Wednesday, August 10th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $87.46.

Shares of Camden Property Trust (NYSE:CPT) opened at 78.71 on Wednesday. Camden Property Trust has a one year low of $69.76 and a one year high of $90.91. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 8.49 and a beta of 0.43. The stock’s 50 day moving average price is $78.63 and its 200 day moving average price is $84.08.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, October 27th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. Camden Property Trust had a return on equity of 15.12% and a net margin of 94.44%. The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $218.51 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts expect that Camden Property Trust will post $4.62 EPS for the current fiscal year.

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In related news, COO H Malcolm Stewart sold 11,122 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $89.63, for a total transaction of $996,864.86. Following the completion of the transaction, the chief operating officer now directly owns 252,526 shares of the company’s stock, valued at $22,633,905.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William B. Mcguire sold 2,124 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $81.76, for a total value of $173,658.24. Following the transaction, the director now directly owns 2,015 shares of the company’s stock, valued at $164,746.40. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Camden Property Trust by 2.5% in the second quarter. Vanguard Group Inc. now owns 13,413,156 shares of the real estate investment trust’s stock valued at $1,185,990,000 after buying an additional 327,510 shares during the period. Lasalle Investment Management Securities LLC boosted its position in shares of Camden Property Trust by 0.8% in the second quarter. Lasalle Investment Management Securities LLC now owns 5,519,707 shares of the real estate investment trust’s stock valued at $488,052,000 after buying an additional 43,279 shares during the period. Cohen & Steers Inc. boosted its position in shares of Camden Property Trust by 1,532.7% in the second quarter. Cohen & Steers Inc. now owns 4,557,918 shares of the real estate investment trust’s stock valued at $403,011,000 after buying an additional 4,278,755 shares during the period. State Street Corp boosted its position in shares of Camden Property Trust by 1.2% in the second quarter. State Street Corp now owns 4,421,057 shares of the real estate investment trust’s stock valued at $390,916,000 after buying an additional 51,437 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Camden Property Trust by 64.9% in the third quarter. Daiwa Securities Group Inc. now owns 4,311,826 shares of the real estate investment trust’s stock valued at $361,072,000 after buying an additional 1,697,422 shares during the period. 96.55% of the stock is owned by hedge funds and other institutional investors.

About Camden Property Trust

Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. The Company operates in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities segment.

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