Camden Property Trust (NYSE:CPT) Given New $118.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reduced its price target for Camden Property Trust from $120.00 to $118.00, maintaining a "sector perform" rating on the stock, which suggests a potential upside of 10.53% from the current price.
• Camden Property Trust recently reported $1.70 earnings per share for its last quarter, exceeding analyst expectations, and the company had a year-over-year revenue increase of 2.4%.
• Research indicates mixed ratings for Camden Property Trust, with one sell, eleven hold, and seven buy ratings, resulting in an overall average target price of $129.00.

Camden Property Trust (NYSE:CPT - Get Free Report) had its price objective dropped by stock analysts at Royal Bank Of Canada from $120.00 to $118.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price target indicates a potential upside of 10.53% from the company's current price.

A number of other research analysts have also recently commented on CPT. Scotiabank reduced their target price on Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating on the stock in a research note on Friday, June 13th. JPMorgan Chase & Co. increased their price objective on Camden Property Trust from $127.00 to $129.00 and gave the company an "underweight" rating in a research report on Tuesday, June 17th. Wall Street Zen raised Camden Property Trust from a "sell" rating to a "hold" rating in a report on Saturday. UBS Group cut their target price on Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Mizuho decreased their price target 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $129.00.

Camden Property Trust Price Performance

Shares of NYSE CPT traded down $0.20 during midday trading on Monday, hitting $106.76. 97,389 shares of the company's stock were exchanged, compared to its average volume of 986,358. Camden Property Trust has a 12-month low of $102.35 and a 12-month high of $127.69. The company has a current ratio of 0.18, a quick ratio of 0.19 and a debt-to-equity ratio of 0.82. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 74.59, a PEG ratio of 3.55 and a beta of 0.78. The business's fifty day moving average price is $114.62 and its two-hundred day moving average price is $116.03.

Camden Property Trust (NYSE:CPT - Get Free Report) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.01. The business had revenue of $396.51 million during the quarter, compared to analyst estimates of $393.24 million. Camden Property Trust had a net margin of 9.99% and a return on equity of 3.30%. Camden Property Trust's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.71 earnings per share. As a group, research analysts forecast that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Insider Activity

In other Camden Property Trust news, Director Steven A. Webster sold 1,200 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the completion of the transaction, the director owned 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 filing with the SEC, which can be accessed through this link. Also, CEO Richard J. Campo sold 5,572 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total transaction of $665,854.00. Following the completion of the sale, the chief executive officer owned 289,720 shares in the company, 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. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Camden Property Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in Camden Property Trust by 87.3% in the 2nd quarter. Jennison Associates LLC now owns 1,013,719 shares of the real estate investment trust's stock worth $114,236,000 after buying an additional 472,623 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Camden Property Trust by 6.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,821 shares of the real estate investment trust's stock worth $2,459,000 after acquiring an additional 1,300 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Camden Property Trust by 57.8% during the second quarter. Teacher Retirement System of Texas now owns 58,941 shares of the real estate investment trust's stock valued at $6,642,000 after purchasing an additional 21,595 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its position in Camden Property Trust by 181.0% during the second quarter. Y Intercept Hong Kong Ltd now owns 7,093 shares of the real estate investment trust's stock valued at $799,000 after purchasing an additional 4,569 shares during the period. Finally, Transcend Capital Advisors LLC bought a new position in Camden Property Trust during the second quarter valued at approximately $216,000. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

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.

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