Camden Property Trust (NYSE:CPT) Given New $120.00 Price Target at Wells Fargo & Company

Camden Property Trust (NYSE:CPT) had its price objective cut by Wells Fargo & Company from $127.00 to $120.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.29% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Scotiabank cut their price target on Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Barclays lowered their price target on Camden Property Trust from $138.00 to $126.00 and set an “overweight” rating on the stock in a research report on Friday. Jefferies Financial Group initiated coverage on Camden Property Trust in a report on Friday, October 11th. They issued a “hold” rating and a $123.00 price objective for the company. StockNews.com downgraded Camden Property Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. cut Camden Property Trust from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $129.00 to $128.00 in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $125.36.

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock traded up $0.80 during trading on Friday, hitting $110.81. 41,686 shares of the stock were exchanged, compared to its average volume of 808,602. The stock has a market cap of $11.82 billion, a PE ratio of 35.07, a P/E/G ratio of 4.03 and a beta of 0.94. The stock’s fifty day moving average is $117.72 and its 200 day moving average is $118.67. Camden Property Trust has a 12 month low of $90.50 and a 12 month high of $127.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.15 and a current ratio of 0.15.

Insider Buying and Selling

In other Camden Property Trust news, Director Heather J. Brunner sold 264 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $29,055.84. Following the completion of the sale, the director now owns 10,273 shares of the company’s stock, valued at approximately $1,130,646.38. This represents a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alexander J. Jessett sold 13,067 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction of $1,496,171.50. Following the transaction, the chief financial officer now directly owns 124,246 shares in the company, valued at $14,226,167. This trade represents a 9.52 % 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 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Camden Property Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in shares of Camden Property Trust by 4.8% during the 2nd quarter. Pacer Advisors Inc. now owns 7,593 shares of the real estate investment trust’s stock valued at $828,000 after acquiring an additional 345 shares during the period. ProShare Advisors LLC lifted its stake in Camden Property Trust by 0.5% in the 2nd quarter. ProShare Advisors LLC now owns 31,349 shares of the real estate investment trust’s stock worth $3,420,000 after purchasing an additional 146 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Camden Property Trust by 15.6% during the second quarter. Public Sector Pension Investment Board now owns 14,776 shares of the real estate investment trust’s stock valued at $1,612,000 after buying an additional 1,990 shares during the period. Bank of Montreal Can increased its position in shares of Camden Property Trust by 11.0% in the second quarter. Bank of Montreal Can now owns 103,205 shares of the real estate investment trust’s stock worth $11,352,000 after purchasing an additional 10,208 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Camden Property Trust during the 2nd quarter valued at $696,000. 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.