Truist Financial Boosts Camden Property Trust (NYSE:CPT) Price Target to $131.00

Camden Property Trust (NYSE:CPT) had its price target increased by equities researchers at Truist Financial from $129.00 to $131.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price suggests a potential upside of 10.22% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Evercore ISI upped their price target on shares of Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Stifel Nicolaus upped their price target on shares of Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a report on Friday, February 7th. Royal Bank of Canada upped their price target on shares of Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. Barclays upped their price target on shares of Camden Property Trust from $127.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, StockNews.com downgraded shares of Camden Property Trust from a “hold” rating to a “sell” rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, Camden Property Trust presently has an average rating of “Hold” and an average price target of $129.94.

Camden Property Trust Stock Performance

Shares of CPT opened at $118.85 on Monday. The firm has a 50-day moving average price of $116.07 and a 200 day moving average price of $117.45. The firm has a market capitalization of $12.70 billion, a PE ratio of 79.23, a P/E/G ratio of 4.41 and a beta of 0.79. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. Camden Property Trust has a 52-week low of $98.35 and a 52-week high of $127.69.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. The firm had revenue of $390.57 million during the quarter, compared to analyst estimates of $388.47 million. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. Camden Property Trust’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 EPS. On average, sell-side analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven A. Webster sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $118.76, for a total transaction of $142,512.00. Following the transaction, the director now owns 117,374 shares of the company’s stock, valued at approximately $13,939,336.24. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard J. Campo sold 5,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total transaction of $665,854.00. Following the transaction, the chief executive officer now directly owns 289,720 shares in the company, valued at approximately $34,621,540. The trade was a 1.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,907 shares of company stock worth $824,860. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Camden Property Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPT. National Pension Service bought a new position in shares of Camden Property Trust in the fourth quarter valued at approximately $26,000. UMB Bank n.a. boosted its stake in shares of Camden Property Trust by 76.6% in the 4th quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 98 shares in the last quarter. Quent Capital LLC lifted its position in Camden Property Trust by 87.0% during the 4th quarter. Quent Capital LLC now owns 245 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 114 shares in the last quarter. IAG Wealth Partners LLC bought a new stake in Camden Property Trust during the 4th quarter worth about $29,000. Finally, Bellwether Advisors LLC bought a new stake in Camden Property Trust during the 4th quarter worth about $31,000. Institutional investors own 97.22% of the company’s stock.

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.