Royal Bank of Canada Reaffirms Sector Perform Rating for Camden Property Trust (NYSE:CPT)

Camden Property Trust (NYSE:CPT)‘s stock had its “sector perform” rating reissued by investment analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They currently have a $121.00 price objective on the real estate investment trust’s stock. Royal Bank of Canada’s price target indicates a potential upside of 10.04% from the company’s current price.

A number of other equities research analysts have also commented on the company. Mizuho reduced their price target on Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded shares of Camden Property Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Jefferies Financial Group initiated coverage on shares of Camden Property Trust in a report on Friday, October 11th. They set a “hold” rating and a $123.00 price objective for the company. Barclays assumed coverage on Camden Property Trust in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $138.00 target price on the stock. Finally, Stifel Nicolaus lowered shares of Camden Property Trust from a “buy” rating to a “hold” rating and boosted their price target for the company from $120.00 to $121.00 in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $126.42.

Camden Property Trust Stock Down 0.9 %

Shares of CPT opened at $109.96 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.15 and a current ratio of 0.15. Camden Property Trust has a 52 week low of $90.50 and a 52 week high of $127.69. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 4.09 and a beta of 0.94. The stock has a fifty day moving average of $117.72 and a 200-day moving average of $118.67.

Insider Activity at Camden Property Trust

In other news, CFO Alexander J. Jessett sold 13,067 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $1,496,171.50. Following the completion of the transaction, the chief financial officer now owns 124,246 shares of the company’s stock, valued at approximately $14,226,167. This represents a 9.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Campo sold 7,324 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 $838,598.00. Following the transaction, the chief executive officer now directly owns 300,135 shares of the company’s stock, valued at $34,365,457.50. This represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,413 shares of company stock valued at $2,895,718. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Camden Property Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. boosted its stake in Camden Property Trust by 76.6% during the fourth quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 98 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Camden Property Trust in the 2nd quarter worth approximately $33,000. Neo Ivy Capital Management bought a new position in Camden Property Trust during the 3rd quarter valued at approximately $38,000. MassMutual Private Wealth & Trust FSB increased its position in Camden Property Trust by 117.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 382 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 206 shares in the last quarter. Finally, American Capital Advisory LLC raised its stake in Camden Property Trust by 42.7% during the third quarter. American Capital Advisory LLC now owns 428 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 128 shares during the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

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.