Camden Property Trust (NYSE:CPT) Given Average Recommendation of “Buy” by Brokerages

Shares of Camden Property Trust (NYSE:CPTGet Rating) have earned an average rating of “Buy” from the eighteen analysts that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $174.62.

CPT has been the topic of several analyst reports. Mizuho cut their price objective on shares of Camden Property Trust from $179.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, February 16th. Zacks Investment Research upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Tuesday, March 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Camden Property Trust from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, March 24th. Piper Sandler cut their target price on shares of Camden Property Trust from $195.00 to $180.00 in a report on Wednesday, May 4th. Finally, Barclays increased their target price on shares of Camden Property Trust from $162.00 to $193.00 in a report on Tuesday, January 18th.

In other news, Director Heather J. Brunner sold 883 shares of the stock in a transaction on Friday, February 25th. The shares were sold at an average price of $164.75, for a total transaction of $145,474.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in CPT. First Trust Advisors LP grew its position in Camden Property Trust by 44.7% in the first quarter. First Trust Advisors LP now owns 37,445 shares of the real estate investment trust’s stock valued at $3,801,000 after purchasing an additional 11,574 shares in the last quarter. Morgan Stanley grew its position in Camden Property Trust by 124.2% in the second quarter. Morgan Stanley now owns 299,467 shares of the real estate investment trust’s stock valued at $39,731,000 after purchasing an additional 165,887 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Camden Property Trust by 12.2% in the third quarter. PNC Financial Services Group Inc. now owns 14,876 shares of the real estate investment trust’s stock valued at $2,193,000 after purchasing an additional 1,620 shares in the last quarter. Truist Financial Corp grew its position in Camden Property Trust by 40.4% in the third quarter. Truist Financial Corp now owns 4,056 shares of the real estate investment trust’s stock valued at $598,000 after purchasing an additional 1,168 shares in the last quarter. Finally, Commerce Bank grew its position in Camden Property Trust by 19.8% in the third quarter. Commerce Bank now owns 2,222 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 367 shares in the last quarter. 92.35% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE CPT opened at $148.81 on Monday. The company’s 50 day simple moving average is $165.05 and its 200 day simple moving average is $165.86. Camden Property Trust has a fifty-two week low of $119.44 and a fifty-two week high of $180.37. The firm has a market capitalization of $15.85 billion, a P/E ratio of 44.16, a P/E/G ratio of 4.26 and a beta of 0.77. The company has a debt-to-equity ratio of 0.86, a current ratio of 5.55 and a quick ratio of 2.47.

Camden Property Trust (NYSE:CPTGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($1.07). Camden Property Trust had a net margin of 29.75% and a return on equity of 8.67%. The business had revenue of $311.36 million during the quarter, compared to analyst estimates of $308.90 million. During the same quarter in the prior year, the company earned $1.24 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Sell-side analysts expect that Camden Property Trust will post 6.47 EPS for the current fiscal year.

About Camden Property Trust (Get Rating)

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.

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