Downgrade Alert for Camden Property Trust (CPT)
Camden Property Trust (NYSE:CPT) was downgraded from Hold to Sell at Zelman today. The stock closed yesterday at $84.23 on volume of 677,000 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.
Over the past year, Camden Property Trust has traded in a range of $67.27 to $87.19 and closed yesterday at $84.23, 25% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.
Camden Property Trust (NYSE:CPT) is currently priced 0.1% above its average consensus analyst price target of $84.13. The stock should find initial support at its 50-day moving average (MA) of $81.06 and further support at its 200-day MA of $76.80.
SmarTrend is monitoring the recent change of momentum in Camden Property Trust. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Camden Property Trust in search of a potential trend change.
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