Camden Property Trust’s (CPT) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Camden Property Trust (NYSE:CPT)‘s stock had its “sector perform” rating restated by investment analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $121.00 price objective on the real estate investment trust’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 10.04% from the stock’s previous close.

Several other research analysts have also recently weighed in on CPT. Scotiabank decreased their price target on Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Barclays began coverage on Camden Property Trust in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $138.00 target price for the company. Stifel Nicolaus cut shares of Camden Property Trust from a “buy” rating to a “hold” rating and upped their target price for the company from $120.00 to $121.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. downgraded shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $129.00 to $128.00 in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group began coverage on shares of Camden Property Trust in a research note on Friday, October 11th. They set a “hold” rating and a $123.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $126.42.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $109.96 on Wednesday. The firm has a market cap of $11.73 billion, a P/E ratio of 34.80, a PEG ratio of 4.09 and a beta of 0.94. Camden Property Trust has a twelve month low of $90.50 and a twelve month high of $127.69. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $117.72 and a 200 day moving average of $118.67.

Insider Activity at Camden Property Trust

In related news, CEO Richard J. Campo sold 1,043 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $114,792.58. Following the completion of the sale, the chief executive officer now owns 299,092 shares in the company, valued at $32,918,065.52. This trade represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Heather J. Brunner sold 1,853 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $212,168.50. Following the completion of the sale, the director now directly owns 10,537 shares of the company’s stock, valued at approximately $1,206,486.50. This trade represents a 14.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,413 shares of company stock valued at $2,895,718 over the last quarter. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Camden Property Trust

A number of hedge funds and other institutional investors have recently modified their holdings of CPT. SMART Wealth LLC purchased a new position in Camden Property Trust in the 3rd quarter valued at approximately $829,000. Nordea Investment Management AB lifted its holdings in shares of Camden Property Trust by 15.0% in the fourth quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock valued at $11,339,000 after purchasing an additional 12,805 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Camden Property Trust in the third quarter valued at approximately $1,660,000. Franklin Resources Inc. increased its stake in shares of Camden Property Trust by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock worth $23,174,000 after purchasing an additional 5,985 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Camden Property Trust by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock worth $66,563,000 after purchasing an additional 51,097 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.