UBS analyst Michael Goldsmith downgraded Camden Property to Neutral from Buy with a price target of $94, down from $127. The firm sees impediments limiting same-store revenue and earnings upside over the next several quarters, and sees pressure from elevated supply weighing on occupancy and limiting pricing power, the analyst tells investors in a research note. UBS also sees elevated bad debt due in part to fraud pressuring the stock.
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Read More on CPT:
- Camden Property downgraded to Underperform at BofA on Sunbelt exposure
- Camden Property downgraded to Underperform from Neutral at BofA
- Camden Property downgraded to Underweight from Neutral at Piper Sandler
- Camden Property sees 2023 core FFO $6.79-$6.83, consensus $6.88
- Camden Property sees Q4 core FFO $1.70-$1.74, consensus $1.80