Exclusive: What’s Camden Property Trust Downside After Today’s Gap Down?

Exclusive: What's Camden Property Trust Downside After Today's Gap Down?

The stock of Camden Property Trust (NYSE:CPT) gapped down by $0.16 today and has $75.37 target or 8.00% below today’s $81.92 share price. The 8 months technical chart setup indicates high risk for the $7.21 billion company. The gap down was reported on Oct, 4 by Barchart.com. If the $75.37 price target is reached, the company will be worth $576.80M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.17% or $1.82 on October 3, hitting $81.92. Camden Property Trust (NYSE:CPT) has risen 6.72% since March 1, 2016 and is uptrending. It has underperformed by 5.49% the S&P500.

Analysts await Camden Property Trust (NYSE:CPT) to report earnings on November, 3. They expect $1.10 earnings per share, down 3.51% or $0.04 from last year’s $1.14 per share. CPT’s profit will be $96.81M for 18.62 P/E if the $1.10 EPS becomes a reality. After $1.15 actual earnings per share reported by Camden Property Trust for the previous quarter, Wall Street now forecasts -4.35% negative EPS growth.

Camden Property Trust (NYSE:CPT) Ratings Coverage

Out of 16 analysts covering Camden Property (NYSE:CPT), 7 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 44% are positive. Camden Property has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Mizuho upgraded the stock to “Buy” rating in Monday, March 21 report. The firm has “Neutral” rating by BTIG Research given on Thursday, August 25. The rating was downgraded by Citigroup to “Hold” on Monday, May 9. The stock of Camden Property Trust (NYSE:CPT) earned “Neutral” rating by Robert W. Baird on Wednesday, August 10. Evercore downgraded the stock to “Buy” rating in Monday, August 24 report. The stock of Camden Property Trust (NYSE:CPT) earned “Underperform” rating by BMO Capital Markets on Friday, October 30. The firm has “Neutral” rating given on Thursday, June 2 by SunTrust. On Tuesday, July 21 the stock rating was initiated by SunTrust with “Buy”. The rating was initiated by DA Davidson on Friday, September 18 with “Buy”. The rating was downgraded by UBS on Tuesday, September 13 to “Sell”.

According to Zacks Investment Research, “CAMDEN PROPERTY TRUST is a self-administered and self-managed real estate investment trust that is engaged in the ownership, development, acquisition, management, marketing and disposition of multi-family apartment communities in the Southwest and Mountain regions of the United States.”

Insitutional Activity: The institutional sentiment decreased to 0.99 in Q2 2016. Its down 0.20, from 1.19 in 2016Q1. The ratio worsened, as 44 funds sold all Camden Property Trust shares owned while 99 reduced positions. 22 funds bought stakes while 120 increased positions. They now own 91.66 million shares or 6.29% more from 86.24 million shares in 2016Q1.
Huntington Bank, a Ohio-based fund reported 700 shares. Bahl Gaynor last reported 0.17% of its portfolio in the stock. Pictet Asset Mngmt holds 0.01% of its portfolio in Camden Property Trust (NYSE:CPT) for 32,300 shares. The Ohio-based Winfield Associates has invested 0% in Camden Property Trust (NYSE:CPT). Blackrock Inc holds 0.04% or 273,176 shares in its portfolio. Proshare Advsrs Ltd Llc accumulated 29,795 shares or 0.03% of the stock. Envestnet Asset Mgmt owns 11,092 shares or 0% of their US portfolio. Independent Order Of Foresters accumulated 12,455 shares or 0.81% of the stock. Bb&T Corporation last reported 600 shares in the company. Retirement Sys Of Alabama accumulated 112,225 shares or 0.06% of the stock. California Employees Retirement Systems, a California-based fund reported 222,981 shares. Prudential holds 53,522 shares or 0.01% of its portfolio. The Ohio-based Schulhoff & has invested 0.2% in Camden Property Trust (NYSE:CPT). Breton Hill Capital Ltd, a Ontario – Canada-based fund reported 83,399 shares. The Ohio-based Mai Cap Mngmt has invested 0.05% in Camden Property Trust (NYSE:CPT).

Insider Transactions: Since May 4, 2016, the stock had 0 insider buys, and 14 sales for $32.33 million net activity. $830,150 worth of Camden Property Trust (NYSE:CPT) shares were sold by LEVEY LEWIS A. STEWART H MALCOLM also sold $998,905 worth of Camden Property Trust (NYSE:CPT) shares. Jessett Alexander J. sold $1.02M worth of stock. ODEN D KEITH sold $1.97M worth of Camden Property Trust (NYSE:CPT) on Tuesday, August 2. $9.44 million worth of Camden Property Trust (NYSE:CPT) was sold by CAMPO RICHARD J. 13,703 shares were sold by Gallagher Michael P, worth $1.16M. The insider PAULSEN WILLIAM F sold $124,246.

More notable recent Camden Property Trust (NYSE:CPT) news were published by: Businesswire.com which released: “Camden Property Trust Announces Third Quarter 2016 Earnings Release and …” on October 03, 2016, also Fortune.com with their article: “Camden Property Trust” published on June 28, 2016, Businesswire.com published: “Camden Property Trust Named One of Fortune ® Magazine’s “100 Best Workplaces …” on September 15, 2016. More interesting news about Camden Property Trust (NYSE:CPT) were released by: Costar.com and their article: “Leaving Las Vegas: Camden Property Trust Sells Entire Nevada Portfolio to …” published on May 02, 2016 as well as Reuters.com‘s news article titled: “Fitch Upgrades Camden Property Trust to ‘A-‘; Outlook Stable” with publication date: August 31, 2016.

CPT Company Profile

Camden Property Trust, incorporated in 1933, is a real estate investment trust (REIT). The Firm is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. The Firm operates in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities segment. The Firm owns interests in, operates, or is developing approximately 180 multifamily properties consisting of approximately 62,650 apartment homes across the United States. Of the over 180 properties, approximately eight properties are under construction. It also owns land holdings. The Company’s 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.

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