Camden Property Trust (CPT) is Downgraded by SunTrust to Neutral

Camden Property Trust (CPT) was Downgraded by SunTrust to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. SunTrust advised their investors in a research report released on Jun 2, 2016.

Many Wall Street Analysts have commented on Camden Property Trust. Camden Property Trust was Downgraded by Citigroup to ” Neutral” on May 9, 2016. Company shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Outperform”, Firm has raised the Price Target to $ 91 from a previous price target of $87 .Camden Property Trust was Upgraded by Mizuho to ” Buy” on Mar 21, 2016.

On the company’s financial health, Camden Property Trust reported $1.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.19. The company had revenue of $217.59 million for the quarter, compared to analysts expectations of $231.64 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.

Camden Property Trust closed down -1.11 points or -1.30% at $84.1 with 7,38,212 shares getting traded on Wednesday. Post opening the session at $84.54, the shares hit an intraday low of $83.82 and an intraday high of $84.84 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 31, 2016, Alexander J. Jessett (EVP – Finance & CFO) sold 11,936 shares at $85.07 per share price. According to the SEC, on May 31, 2016, William F Paulsen (director) sold 1,460 shares at $85.10 per share price. On May 26, 2016, Michael P Gallagher (Chief Accounting Officer) sold 13,703 shares at $84.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership management development redevelopment acquisition and construction of multifamily apartment communities. The Companies 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. As of December 31 2014 the Company owned interests in operated or was developing 181 multifamily properties consisting of 63163 apartment homes across the United States. The Company’s properties include Camden Copper Square Camden Montierra Camden Sea Palms Camden Tuscany Camden Belleview Station Camden Denver West Camden Fallsgrove Camden Summerfield Camden Bay Camden Brookwood and Camden Ballantyne among others.

Camden Property Trust

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