Scotiabank Lowers Camden Property Trust (NYSE:CPT) Price Target to $136.00

Camden Property Trust (NYSE:CPT) had its price objective cut by research analysts at Scotiabank from $144.00 to $136.00 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 17.28% from the company’s previous close.

CPT has been the topic of several other research reports. Citigroup upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and raised their price target for the company from $125.00 to $138.00 in a research note on Friday, March 28th. Barclays raised their price target on Camden Property Trust from $127.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Truist Financial set a $131.00 target price on shares of Camden Property Trust and gave the company a “buy” rating in a research report on Monday, May 19th. Jefferies Financial Group raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and upped their price target for the stock from $117.00 to $139.00 in a research note on Monday, March 10th. Finally, Mizuho lowered their price objective on shares of Camden Property Trust from $130.00 to $122.00 and set an “outperform” rating on the stock in a research note on Friday, May 23rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $129.33.

Camden Property Trust Price Performance

CPT opened at $115.96 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $115.20 and its 200 day moving average price is $116.84. Camden Property Trust has a fifty-two week low of $102.35 and a fifty-two week high of $127.69. The firm has a market cap of $12.39 billion, a price-to-earnings ratio of 77.31, a price-to-earnings-growth ratio of 4.41 and a beta of 0.78.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.04. The business had revenue of $390.57 million for the quarter, compared to the consensus estimate of $388.47 million. Camden Property Trust had a return on equity of 3.35% and a net margin of 10.58%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.70 EPS. As a group, sell-side analysts expect that Camden Property Trust will post 6.76 earnings per share for the current year.

Insider Activity at Camden Property Trust

In other Camden Property Trust news, Director Steven A. Webster sold 1,200 shares of Camden Property Trust 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 directly owns 117,374 shares in the company, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Campo sold 5,572 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total value of $665,854.00. Following the completion of the sale, the chief executive officer now directly owns 289,720 shares of the company’s stock, valued at approximately $34,621,540. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Camden Property Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. ABC Arbitrage SA acquired a new position in Camden Property Trust in the 4th quarter valued at approximately $821,000. Smartleaf Asset Management LLC raised its stake in shares of Camden Property Trust by 33.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 531 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 132 shares in the last quarter. Inceptionr LLC acquired a new stake in shares of Camden Property Trust during the 4th quarter valued at about $621,000. Northern Trust Corp increased its holdings in Camden Property Trust by 33.7% in the fourth quarter. Northern Trust Corp now owns 1,420,076 shares of the real estate investment trust’s stock worth $164,786,000 after buying an additional 357,718 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Camden Property Trust by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock valued at $510,674,000 after acquiring an additional 277,117 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Company Profile

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.