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Camden Property price target lowered to $92 from $107 at Wells Fargo

Wells Fargo analyst James Feldman lowered the firm’s price target on Camden Property to $92 from $107 and keeps an Underweight rating on the shares. The analyst says multi-family real estate investment trusts “finally showed the cracks from new supply this quarter.” Despite the underperformance in Q3, the firm still views the Sunbelt as most at risk given weak visibility on where rents in heavy supply markets bottom.

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