Citigroup Has Lowered Expectations for Camden Property Trust (NYSE:CPT) Stock Price

Key Points

• Citigroup has lowered its price target for Camden Property Trust from $138.00 to $130.00 while maintaining a "buy" rating, indicating a potential upside of 22.57% based on the current stock price.
• Camden Property Trust's stock is currently down 0.9%, trading at $106.07, with a 12-month low of $102.35 and a high of $127.69.
• The company reported earnings of $1.70 per share, surpassing estimates, and its revenue increased by 2.4% year-over-year totaling $396.51 million.

Camden Property Trust (NYSE:CPT - Free Report) had its target price trimmed by Citigroup from $138.00 to $130.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust's stock.

CPT has been the topic of a number of other reports. UBS Group lowered their price objective on shares of Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Truist Financial set a $131.00 price target on shares of Camden Property Trust and gave the company a "buy" rating in a research note on Monday, May 19th. Mizuho cut 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 report on Friday, May 23rd. Piper Sandler reduced their price objective on shares of Camden Property Trust from $130.00 to $117.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $133.00 target price (down previously from $136.00) on shares of Camden Property Trust in a research report on Thursday, August 14th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $124.94.

Camden Property Trust Stock Up 2.1%

Shares of CPT traded up $2.23 during midday trading on Thursday, hitting $108.00. The stock had a trading volume of 48,058 shares, compared to its average volume of 982,423. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 75.29, a price-to-earnings-growth ratio of 3.63 and a beta of 0.78. The company has a 50 day simple moving average of $112.36 and a two-hundred day simple moving average of $115.57. Camden Property Trust has a twelve month low of $102.35 and a twelve month high of $127.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.18 and a quick ratio of 0.18.

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 analysts' consensus estimates of $1.69 by $0.01. The business had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.24 million. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%. Camden Property Trust's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.71 EPS. On average, analysts anticipate that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, June 30th. Camden Property Trust's payout ratio is 293.71%.

Hedge Funds Weigh In On Camden Property Trust

Several institutional investors and hedge funds have recently modified their holdings of CPT. Bellwether Advisors LLC bought a new stake in shares of Camden Property Trust during the 4th quarter worth about $31,000. Loomis Sayles & Co. L P acquired a new stake in Camden Property Trust during the second quarter worth approximately $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Camden Property Trust during the second quarter worth approximately $32,000. MUFG Securities EMEA plc acquired a new position in shares of Camden Property Trust in the second quarter valued at approximately $35,000. Finally, IFP Advisors Inc increased its stake in shares of Camden Property Trust by 45.7% during the second quarter. IFP Advisors Inc now owns 322 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 101 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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.