Camden Property Trust (NYSE:CPT) Cut to “Neutral” at Bank of America

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

CPT has been the topic of a number of other research reports. Zelman & Associates raised Camden Property Trust from a sell rating to a hold rating in a research report on Monday, August 12th. Barclays reaffirmed a buy rating and issued a $124.00 price target on shares of Camden Property Trust in a research report on Sunday, October 13th. KeyCorp increased their price target on Camden Property Trust from $112.00 to $117.00 and gave the company an overweight rating in a research report on Tuesday, October 8th. BMO Capital Markets reaffirmed a buy rating and issued a $115.00 price target on shares of Camden Property Trust in a research report on Monday, November 4th. Finally, DA Davidson lowered Camden Property Trust from a buy rating to a neutral rating in a research report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $112.29.

CPT stock traded down $0.15 during mid-day trading on Thursday, reaching $110.12. The company had a trading volume of 326,227 shares, compared to its average volume of 489,332. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 0.76. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 3.22 and a beta of 0.39. The firm has a fifty day simple moving average of $112.64 and a 200 day simple moving average of $107.13. Camden Property Trust has a fifty-two week low of $83.67 and a fifty-two week high of $116.67.

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

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

Several hedge funds and other institutional investors have recently modified their holdings of CPT. First Trust Advisors LP raised its position in shares of Camden Property Trust by 44.7% during the 1st 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 in the last quarter. Eii Capital Management Inc. increased its position in Camden Property Trust by 10.2% during 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 buying an additional 1,399 shares during the period. WINTON GROUP Ltd increased its position in Camden Property Trust by 8.8% during the second quarter. WINTON GROUP Ltd now owns 340,288 shares of the real estate investment trust’s stock worth $35,523,000 after buying an additional 27,575 shares during the period. Retirement Systems of Alabama increased its position in Camden Property Trust by 7.0% during 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 buying an additional 17,560 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Camden Property Trust during the second quarter worth approximately $354,000. 93.56% of the stock is currently owned by institutional investors and hedge funds.

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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