** Scotiabank downgrades U.S. real estate investment trust Camden Property Trust CPT.N to "sector underperform" from "sector perform"

** Brokerage cuts price target to $95 from $113, representing a 9.8% downside to stock's last close

** Brokerage expects a prolonged recovery in the Sunbelt due to oversupply, which will limit rent growth and occupancy gains

** Adds that absorbing this excess supply will take several years, delaying a return to pre-COVID performance levels

** Median PT of 26 brokerages covering the stock is $114 - data compiled by LSEG

** As of last close, CPT fell 4.3% YTD