Morgan Stanley Issues Pessimistic Forecast for Camden Property Trust (NYSE:CPT) Stock Price

Key Points

• Morgan Stanley cut its Camden Property Trust price target from $118 to $107, maintaining an “equal weight” rating; the new target implies 8.45% upside from the prior close.
• Analyst sentiment is broadly cautious: the stock has an average “Hold” rating and a consensus target of $110.62, with 11 Holds, 3 Buys, and 1 Sell.
• Camden beat quarterly earnings estimates, reporting $1.71 per share versus $1.69 expected, but revenue fell 3.7% year over year and missed forecasts.

Camden Property Trust (NYSE:CPT - Get Free Report) had its target price dropped by investment analysts at Morgan Stanley from $118.00 to $107.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Morgan Stanley's price target points to a potential upside of 8.45% from the company's previous close.

Several other analysts have also commented on CPT. Wells Fargo & Company decreased their price target on shares of Camden Property Trust from $110.00 to $103.00 and set an "equal weight" rating for the company in a research report on Monday, October 19th. Jefferies Financial Group raised shares of Camden Property Trust to a "hold" rating in a report on Wednesday, July 22nd. Royal Bank Of Canada cut their price target on shares of Camden Property Trust from $111.00 to $101.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 13th. Mizuho cut their price objective on shares of Camden Property Trust from $125.00 to $116.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 8th. Finally, Piper Sandler decreased their target price on shares of Camden Property Trust from $119.00 to $102.00 and set a "neutral" rating for the company in a research report on Monday, October 12th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Camden Property Trust presently has an average rating of "Hold" and a consensus target price of $110.62.

Camden Property Trust Trading Down 1.2%

Shares of CPT traded down $1.22 during trading hours on Wednesday, reaching $98.67. 309,667 shares of the company traded hands, compared to its average volume of 1,120,379. The stock's fifty day moving average price is $100.30 and its 200 day moving average price is $105.76. The company has a current ratio of 1.82, a quick ratio of 0.18 and a debt-to-equity ratio of 0.91. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 7.46 and a beta of 0.75. Camden Property Trust has a 12-month low of $95.30 and a 12-month high of $119.81.

Camden Property Trust (NYSE:CPT - Get Free Report) last issued its earnings results on Thursday, November 5th. The real estate investment trust reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.02. Camden Property Trust had a net margin of 71.94% and a return on equity of 26.22%. The business had revenue of $381.06 million for the quarter, compared to analyst estimates of $384.88 million. During the same period last year, the company posted $1.70 earnings per share. The company's quarterly revenue was down 3.7% compared to the same quarter last year. Sell-side analysts forecast that Camden Property Trust will post 6.76 earnings per share for the current year.

Institutional Investors Weigh In On Camden Property Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPT. Colonial Trust Co SC boosted its position in Camden Property Trust by 123,636.0% during the third quarter. Colonial Trust Co SC now owns 30,934 shares of the real estate investment trust's stock worth $2,992,000 after acquiring an additional 30,909 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Camden Property Trust by 658.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 751 shares of the real estate investment trust's stock valued at $73,000 after acquiring an additional 652 shares during the last quarter. Voya Investment Management LLC grew its holdings in Camden Property Trust by 0.9% in the 3rd quarter. Voya Investment Management LLC now owns 20,773 shares of the real estate investment trust's stock valued at $2,009,000 after buying an additional 191 shares in the last quarter. Rothschild Investment LLC increased its position in Camden Property Trust by 407.2% during the third quarter. Rothschild Investment LLC now owns 5,397 shares of the real estate investment trust's stock worth $499,000 after purchasing an additional 4,333 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Camden Property Trust by 821.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 76,892 shares of the real estate investment trust's stock worth $7,438,000 after purchasing an additional 68,545 shares during the period. Institutional investors and hedge funds own 97.22% of the company's stock.

Camden Property Trust Company Profile

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas. Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.

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