2021-02-22 07:27:33 CPT Camden Property
02/22/21 02/2207:27 02/22/2107:27 | Camden Property downgraded to Sector Weight on valuation at KeyBancAs previously reported, KeyBanc analyst Austin Wurschmidt downgraded Camden Property to Sector Weight from Overweight as the stock is approaching his prior price target and appears more fairly valued. The analyst continues to expect improving fundamental trends to drive a reacceleration in same store revenue growth in mid to late 2021 and potential upside to guidance. Moreover, Sunbelt demand trends from in-migration and attractive job growth remain positive for Camden Property's medium to longer term growth story, he adds. However, Wurschmidt argues that new supply and a strong single-family housing market could be modest headwinds. Notably, the analyst would look to be opportunistic to the extent fundamentals reaccelerate greater than he is underwriting or the stock pulls back to a more attractive level. |
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