Today’s Rating On Watch: Does Camden Property Trust (NYSE:CPT) Look Good? Bank of America Upgrades It

November 23, 2016 - By Winifred Garcia

Today's Rating On Watch:  Does Camden Property Trust (NYSE:CPT) Look Good? Bank of America Upgrades It

Camden Property Trust (NYSE:CPT) Upgrade

Trading of Camden Property Trust (NYSE:CPT)‘s shares is going to be interesting today. Bank of America increased the stock from a “Neutral” to a “Buy”.

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 10.06% above today’s ($77.56) stock price. Camden Property has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by DA Davidson on Friday, September 18. The firm has “Neutral” rating by Citigroup given on Thursday, August 4. The company was maintained on Monday, July 18 by Deutsche Bank. As per Monday, August 24, the company rating was upgraded by Zacks. The stock of Camden Property Trust (NYSE:CPT) earned “Buy” rating by Mizuho on Monday, March 21. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, November 6. The rating was downgraded by BMO Capital Markets on Friday, October 30 to “Underperform”. The rating was initiated by BTIG Research with “Neutral” on Thursday, August 25. The rating was maintained by Barclays Capital with “Overweight” on Tuesday, July 19. On Tuesday, September 13 the stock rating was downgraded by UBS to “Sell”.

About 385,395 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 2016 Q2. 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.

Ibm Retirement Fund last reported 8,631 shares in the company. Ameritas Inv Ptnrs Inc owns 30,856 shares or 0.18% of their US portfolio. The United Kingdom-based Henderson Group Public Limited Co has invested 0% in Camden Property Trust (NYSE:CPT). Fort Washington Inv Oh, a Ohio-based fund reported 7,100 shares. Nomura Asset Mgmt Ltd last reported 63,674 shares in the company. Tower Capital Limited Liability (Trc) has 2,120 shares for 0.02% of their US portfolio. The Japan-based Dai Ichi Life Insurance Company has invested 0.03% in Camden Property Trust (NYSE:CPT). Pioneer Inv Mngmt holds 0.07% or 222,274 shares in its portfolio. Gerstein Fisher holds 6,208 shares or 0.07% of its portfolio. State Treasurer State Of Michigan accumulated 0.02% or 34,900 shares. Mutual Of America Cap Mgmt Ltd Liability Corp reported 67,843 shares or 0.13% of all its holdings. Ameriprise Fincl accumulated 0.03% or 651,101 shares. The Massachusetts-based Moors And Cabot has invested 0.07% in Camden Property Trust (NYSE:CPT). Counsel Port Ser Inc accumulated 0.27% or 30,915 shares. Strs Ohio holds 191,103 shares or 0.08% of its portfolio.

Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 6 selling transactions for $6.62 million net activity. Another trade for 1,460 shares valued at $124,246 was made by PAULSEN WILLIAM F on Thursday, May 26. Gallagher Michael P had sold 13,703 shares worth $1.16 million. 3,949 shares with value of $334,559 were sold by LEVEY LEWIS A on Tuesday, May 24. MCGUIRE WILLIAM B had sold 2,124 shares worth $173,658. 22,318 Camden Property Trust (NYSE:CPT) shares with value of $1.97 million were sold by ODEN D KEITH. 5,878 shares were sold by Sengelmann William W., worth $502,922. The insider CAMPO RICHARD J sold $1.97M.

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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