Camden Property Trust (NYSE:CPT) Price Target Cut to $117.00 by Analysts at Piper Sandler

Key Points

• Analysts at Piper Sandler have reduced the price target for Camden Property Trust from $130.00 to $117.00, maintaining a "neutral" rating which suggests a potential upside of 9.35%.
• Institutional investors own 97.22% of Camden Property Trust's stock, indicating strong institutional support for the company despite recent price adjustments from various analysts.
• Camden Property Trust's stock has fluctuated within a 1-year range of $102.35 to $127.69, highlighting its recent trading performance and market capitalization of $11.43 billion.

Camden Property Trust (NYSE:CPT - Get Free Report) had its price target decreased by analysts at Piper Sandler from $130.00 to $117.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's target price indicates a potential upside of 9.35% from the stock's previous close.

Several other research analysts also recently commented on the company. UBS Group decreased their price objective on Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Evercore ISI decreased their target price on Camden Property Trust from $124.00 to $117.00 and set an "in-line" rating on the stock in a research note on Monday. Barclays lifted their target price on Camden Property Trust from $136.00 to $137.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. lifted their target price on Camden Property Trust from $127.00 to $129.00 and gave the company an "underweight" rating in a research note on Tuesday, June 17th. Finally, Royal Bank Of Canada decreased their target price on Camden Property Trust from $120.00 to $118.00 and set a "sector perform" rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $127.83.

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock traded up $0.05 during trading on Monday, hitting $107.00. 220,135 shares of the company's stock traded hands, compared to its average volume of 987,332. The stock has a market capitalization of $11.43 billion, a P/E ratio of 74.88, a PEG ratio of 3.55 and a beta of 0.78. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.18 and a quick ratio of 0.19. The business has a 50-day simple moving average of $114.62 and a 200-day simple moving average of $116.03. Camden Property Trust has a 1 year low of $102.35 and a 1 year high of $127.69.

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, topping the consensus estimate of $1.69 by $0.01. The business had revenue of $396.51 million for the quarter, compared to analysts' expectations of $393.24 million. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%. The business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.71 earnings per share. As a group, analysts forecast that Camden Property Trust will post 6.76 EPS for the current year.

Insider Buying and Selling at Camden Property Trust

In other news, Director Steven A. Webster sold 1,200 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $118.76, for a total value of $142,512.00. Following the completion of the transaction, the director directly owned 117,374 shares of the company's stock, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $119.50, for a total value of $665,854.00. Following the transaction, the chief executive officer directly owned 289,720 shares in the company, valued at $34,621,540. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Northern Trust Corp increased its holdings in shares of 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 valued at $164,786,000 after purchasing an additional 357,718 shares during the period. Natixis increased its holdings in shares of Camden Property Trust by 741.3% in the fourth quarter. Natixis now owns 18,063 shares of the real estate investment trust's stock valued at $2,096,000 after purchasing an additional 15,916 shares during the period. Jump Financial LLC increased its holdings in shares of Camden Property Trust by 32.1% in the fourth quarter. Jump Financial LLC now owns 20,777 shares of the real estate investment trust's stock valued at $2,411,000 after purchasing an additional 5,051 shares during the period. MQS Management LLC acquired a new position in shares of Camden Property Trust in the first quarter valued at about $1,421,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Camden Property Trust in the fourth quarter valued at about $591,000. 97.22% of the stock is owned by institutional investors and hedge funds.

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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