Downgrade Alert for Camden Property Trust (CPT)
Camden Property Trust (NYSE:CPT) was downgraded from Buy to Neutral at SunTrust today. The stock closed yesterday at $83.99 on volume of 803,000 shares, above average daily volume of 632,000.
Camden Property Trust is a self-administered and self-managed real estate investment trust. The Company owns and operates multifamily apartment communities located in the Southwest region of the United States. The properties are located in Texas, Florida, Missouri, North Carolina, Arizona and Kentucky.
Camden Property Trust share prices have moved between a 52-week high of $87.19 and a 52-week low of $67.27 and closed yesterday at 25% above that low price at $83.99 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.
Potential upside of 0.2% exists for Camden Property Trust, based on a current level of $83.99 and analysts' average consensus price target of $84.13. Camden Property Trust shares have support at the 50-day moving average (MA) of $81.06 and additional support at the 200-day MA of $76.80.
SmarTrend recommended that subscribers consider buying shares of Camden Property Trust on February 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $76.32. Since that recommendation, shares of Camden Property Trust have risen 10.2%. We continue to monitor CPT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Camden Property Trust