BMO Capital downgraded Camden Property Trust to Market Perform from Outperform with an unchanged price target of $100. The more benign interest rate backdrop will likely benefit Camden Property, but BMO is concerned of record-high new supply in many of the company’s markets, coupled with a more subdued employment outlook, the analyst tells investors in a research note. The firm estimates Sunbelt multifamily fundamentals in 2024 will be historically weak.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CPT:
- Camden Property initiated with neutral view at Morgan Stanley, here’s why
- Camden Property price target lowered by $6 at Mizuho, here’s why
- Camden Property price target lowered to $122 from $132 at Truist
- Camden Property price target lowered to $110 from $111.50 at Stifel
- Camden Property price target lowered to $92 from $107 at Wells Fargo
