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Sandler O'Neill & Partners LP lowers Camden Property Trust to 'hold'

Sandler O'Neill & Partners LP analyst lowered his investment opinion of Camden Property Trust to "hold" from"buy," with a price target of $87.

The analyst wrote in a research report: "While oil isstill going through its reset, our DC market visit last summer indicated thatWashington had bottomed and was trying to get its sea legs back. We still likeCPT's positioning for this year and note 11 of its 14 markets are expected tohave revenue growth above 5%. While CPT still looks a little cheap versus NAV,at ~10% discount, we note our other coverage Apartment REITs (ex-PPS) tradebetween -4% and +4% of NAV."