Ratings Don’t Lie: Camden Property (NYSE:CPT)’s Is Reaching An Inflection Point; BofA Merrill Upgrades It

November 23, 2016 - By Vivian Park

Ratings Don't Lie:  Camden Property (NYSE:CPT)'s Is Reaching An Inflection Point; BofA Merrill Upgrades It

Camden Property (NYSE:CPT) Upgrade

BofA Merrill increased shares of Camden Property (NYSE:CPT) from a Neutral rating to Buy rating in a a research note revealed to clients and investors on Wednesday, 23 November.

Camden Property Trust (NYSE:CPT) Ratings Coverage

Out of 16 analysts covering Camden Property (NYSE:CPT), 7 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 44% are positive. $95 is the highest target while $77 is the lowest. The $85.36 average target is 10.04% above today’s ($77.57) stock price. Camden Property has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was downgraded by Robert W. Baird on Wednesday, August 10 to “Neutral”. UBS downgraded the shares of CPT in a report on Tuesday, September 13 to “Sell” rating. The firm has “Neutral” rating given on Thursday, June 2 by SunTrust. The rating was upgraded by Mizuho on Monday, March 21 to “Buy”. The rating was maintained by Deutsche Bank with “Hold” on Tuesday, November 3. The firm earned “Overweight” rating on Friday, August 12 by Barclays Capital. The firm has “Neutral” rating by Citigroup given on Thursday, August 4. The stock has “Neutral” rating given by BTIG Research on Thursday, August 25. The stock of Camden Property Trust (NYSE:CPT) has “Overweight” rating given on Wednesday, December 16 by KeyBanc Capital Markets. As per Monday, August 24, the company rating was upgraded by Zacks.

About 251,312 shares traded hands. Camden Property Trust (NYSE:CPT) has declined 2.98% since April 21, 2016 and is downtrending. It has underperformed by 8.31% the S&P500.

Insitutional Activity: The institutional sentiment is 0.99 in Q2 2016. Its the same as in 2016Q1. The ratio is flat, as 44 funds sold all Camden Property Trust shares owned while 99 reduced positions. only 22 funds bought stakes while 120 increased positions. They now own 91.66 million shares or 6.29% more from 86.24 million shares in 2016Q1.

Moreover, California State Teachers Retirement System has 0.04% invested in Camden Property Trust (NYSE:CPT) for 186,009 shares. Fil Limited last reported 0.06% of its portfolio in the stock. Morgan Stanley has 0.11% invested in the company for 3.53 million shares. Suntrust Banks accumulated 0% or 2,909 shares. Gsa Capital Prns Llp last reported 0.06% of its portfolio in the stock. Citigroup last reported 21,513 shares in the company. Moreover, Blackrock Advsrs Ltd has 0.01% invested in Camden Property Trust (NYSE:CPT) for 108,326 shares. Shinko Asset Mgmt Communications Limited holds 2.52 million shares or 1.57% of its portfolio. Commerzbank Aktiengesellschaft Fi last reported 0% of its portfolio in the stock. Weaver C Barksdale & Associates reported 53 shares or 0.01% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) owns 19,744 shares or 0.02% of their US portfolio. Trust Department Mb Bancshares N A last reported 1,000 shares in the company. M&T Bancorporation owns 10,832 shares or 0.01% of their US portfolio. The Japan-based Nomura Asset Mngmt has invested 0.11% in Camden Property Trust (NYSE:CPT). Moreover, Presima Incorporated has 0.64% invested in Camden Property Trust (NYSE:CPT) for 46,000 shares.

Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 6 sales for $6.62 million net activity. 2,124 shares were sold by MCGUIRE WILLIAM B, worth $173,658. Another trade for 13,703 shares valued at $1.16M was made by Gallagher Michael P on Wednesday, May 25. LEVEY LEWIS A sold $334,559 worth of stock. $996,831 worth of shares were sold by STEWART H MALCOLM on Thursday, September 8. PAULSEN WILLIAM F also sold $124,246 worth of Camden Property Trust (NYSE:CPT) on Thursday, May 26. 5,878 shares with value of $502,922 were sold by Sengelmann William W. on Thursday, September 22. CAMPO RICHARD J sold 22,318 shares worth $1.97 million.

Camden Property Trust is a real estate investment trust . The company has a market cap of $6.94 billion. The Firm is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. It has a 15.5 P/E ratio. The Firm operates in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities segment.

According to Zacks Investment Research, “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 Company Profile

Camden Property Trust, incorporated in 1933, is a real estate investment trust (REIT). The Firm is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. The Firm operates in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities segment. The Firm owns interests in, operates, or is developing approximately 180 multifamily properties consisting of approximately 62,650 apartment homes across the United States. Of the over 180 properties, approximately eight properties are under construction. It also owns land holdings. The Company’s properties consist of mid-rise buildings or two and three story buildings in a landscaped setting and provide residents with various amenities common to multifamily rental properties.

More notable recent Camden Property Trust (NYSE:CPT) news were published by: Fortune.com which released: “Camden Property Trust” on November 09, 2015, also Chron.com with their article: “Camden Property Trust facing declining Houston apartment market” published on October 28, 2016, Thestreet.com published: “Camden Property Trust CEO Campo Just Wants Election to Be Over” on November 07, 2016. More interesting news about Camden Property Trust (NYSE:CPT) were released by: Costar.com and their article: “Leaving Las Vegas: Camden Property Trust Sells Entire Nevada Portfolio to …” published on May 02, 2016 as well as Businesswire.com‘s news article titled: “Camden Property Trust Announces Participation in Bank of America Merrill Lynch …” with publication date: September 09, 2016.

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