Camden Property price target lowered to $127 from $131 at RBC Capital

RBC Capital analyst Brad Heffern lowered the firm’s price target on Camden Property (CPT) to $127 from $131 and keeps a Sector Perform rating on the shares after its Q3 FFO miss. The company maintained decent leasing spreads and occupancy during the summer, but October leases saw a more dramatic drop than peers, suggesting that pricing power has waned, the analyst tells investors in a research note.