Camden Property Trust (NYSE:CPT) Upgraded at Wall Street Zen

Key Points

• Camden Property Trust was recently upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
• JPMorgan Chase & Co. and Barclays reported varying target price adjustments for the stock, with current consensus price targets averaging around $129.28.
• The company exceeded earnings expectations in its last quarter, reporting $1.70 EPS against a consensus estimate of $1.69, along with a revenue increase of 2.4% compared to the previous year.

Camden Property Trust (NYSE:CPT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a research report on Tuesday, June 17th. Barclays increased their price objective on Camden Property Trust from $136.00 to $137.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Scotiabank lowered their target price on shares of Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating for the company in a report on Friday, June 13th. UBS Group dropped their price target on shares of 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. Finally, Mizuho lowered their price objective on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $129.28.

Camden Property Trust Price Performance

Shares of Camden Property Trust stock opened at $107.03 on Friday. The company's fifty day simple moving average is $114.62 and its two-hundred day simple moving average is $115.98. Camden Property Trust has a 12-month low of $102.35 and a 12-month high of $127.69. The firm has a market cap of $11.44 billion, a PE ratio of 74.85, a price-to-earnings-growth ratio of 3.62 and a beta of 0.78. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.80.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted 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. Camden Property Trust had a return on equity of 3.28% and a net margin of 9.99%. The firm had revenue of $396.51 million for the quarter, compared to analysts' expectations of $393.24 million. During the same period in the previous year, the firm earned $1.71 earnings per share. The business's revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that Camden Property Trust will post 6.76 EPS for the current year.

Insider Activity

In related news, CEO Richard J. Campo sold 5,572 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 directly owned 289,720 shares of the company's stock, valued at approximately $34,621,540. This represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven A. Webster sold 1,200 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 117,374 shares in the company, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Camden Property Trust

A number of hedge funds have recently modified their holdings of the company. LPL Financial LLC raised its position in shares of Camden Property Trust by 13.9% during the 4th quarter. LPL Financial LLC now owns 32,573 shares of the real estate investment trust's stock valued at $3,780,000 after purchasing an additional 3,974 shares during the period. Orion Portfolio Solutions LLC increased its stake in Camden Property Trust by 8.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,919 shares of the real estate investment trust's stock worth $571,000 after buying an additional 386 shares in the last quarter. Schroder Investment Management Group raised its holdings in Camden Property Trust by 67.2% during the fourth quarter. Schroder Investment Management Group now owns 11,226 shares of the real estate investment trust's stock valued at $1,288,000 after acquiring an additional 4,512 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Camden Property Trust by 6.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,856 shares of the real estate investment trust's stock valued at $1,028,000 after acquiring an additional 546 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Camden Property Trust by 28.7% in the fourth quarter. Franklin Resources Inc. now owns 249,246 shares of the real estate investment trust's stock worth $28,923,000 after acquiring an additional 55,561 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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