Camden Property Trust (NYSE:CPT) Price Target Raised to $129.00 at JPMorgan Chase & Co.

Camden Property Trust (NYSE:CPT - Get Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $127.00 to $129.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "underweight" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 11.10% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Barclays lifted their price target on shares of Camden Property Trust from $127.00 to $136.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Truist Financial set a $131.00 target price on Camden Property Trust and gave the stock a "buy" rating in a research report on Monday, May 19th. Citigroup upgraded shares of Camden Property Trust from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $125.00 to $138.00 in a research note on Friday, March 28th. Wall Street Zen lowered Camden Property Trust from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Finally, Jefferies Financial Group raised Camden Property Trust from a "hold" rating to a "buy" rating and increased their price target for the company from $117.00 to $139.00 in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $129.39.

Camden Property Trust Stock Performance

NYSE:CPT opened at $116.12 on Tuesday. Camden Property Trust has a fifty-two week low of $102.35 and a fifty-two week high of $127.69. The company has a 50 day moving average price of $115.39 and a 200 day moving average price of $116.70. The stock has a market capitalization of $12.41 billion, a P/E ratio of 77.41, a PEG ratio of 4.41 and a beta of 0.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14.

Camden Property Trust (NYSE:CPT - Get Free Report) last released its quarterly earnings data 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. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. The business had revenue of $390.57 million during the quarter, compared to analysts' expectations of $388.47 million. During the same period in the previous year, the company earned $1.70 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts forecast that Camden Property Trust will post 6.76 EPS for the current year.

Insider Activity

In related news, Director Steven A. Webster sold 1,200 shares of the company'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 value 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. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Campo sold 5,572 shares of the company's stock in a transaction that occurred 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 represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Camden Property Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BROOKFIELD Corp ON purchased a new position in shares of Camden Property Trust during the 1st quarter worth approximately $19,087,000. Nicola Wealth Management LTD. purchased a new stake in shares of Camden Property Trust during the 1st quarter valued at about $1,773,000. Inspire Investing LLC raised its stake in Camden Property Trust by 13.7% during the 1st quarter. Inspire Investing LLC now owns 2,556 shares of the real estate investment trust's stock valued at $313,000 after buying an additional 308 shares during the last quarter. Strs Ohio purchased a new position in shares of Camden Property Trust in the first quarter worth approximately $16,742,000. Finally, Turn8 Private Wealth Inc. grew its position in shares of Camden Property Trust by 3.5% during the 1st quarter. Turn8 Private Wealth Inc. now owns 24,125 shares of the real estate investment trust's stock valued at $2,950,000 after acquiring an additional 817 shares during the period. 97.22% of the stock is currently owned by institutional investors.

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.

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