UPDATE: KeyBanc Downgrades Camden Property Trust to Hold on Valuation, Supply Trends

KeyBanc downgraded Camden Property Trust

from Buy to Hold. KeyBanc commented, "We are downgrading shares of Camden Property Trust (CPT-NYSE) to HOLD from BUY on: 1) valuation, as the stock has neared our $73 target price; and 2) a more cautious view of the Company's supply trends in coming years. While CPT's Sunbelt markets are likely to continue to see above average job growth in 2013, we believe that supply is likely to materially slow rent growth in late 2013 and 2014." Camden Property Trust closed at $68.98 on Wednesday.