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

Key Points

• Evercore ISI has reduced its price target for Camden Property Trust from $124.00 to $117.00, maintaining an "in-line" rating, which suggests a potential upside of 9.05% compared to the previous close.
• Other analysts have varied ratings on the stock: Wall Street Zen upgraded it to "hold," while Truist Financial set a higher price target of $131.00 with a "buy" rating.
• The stock has seen a recent trading volume of 173,961 shares, with current market statistics showing a 52-week low of $102.35 and a high of $127.69.

Camden Property Trust (NYSE:CPT - Get Free Report) had its price target decreased by equities research analysts at Evercore ISI from $124.00 to $117.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price objective indicates a potential upside of 8.91% from the stock's current price.

Other analysts have also issued research reports about the company. Truist Financial set a $131.00 price objective on Camden Property Trust and gave the company a "buy" rating in a report on Monday, May 19th. JPMorgan Chase & Co. raised their target price on Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a research note on Tuesday, June 17th. Royal Bank Of Canada set a $118.00 target price on Camden Property Trust and gave the stock a "sector perform" rating in a research note on Monday. Scotiabank reduced their target price on Camden Property Trust from $144.00 to $136.00 and set a "sector perform" rating for the company in a research note on Friday, June 13th. Finally, Wall Street Zen upgraded Camden Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Camden Property Trust presently has a consensus rating of "Hold" and a consensus price target of $127.65.

Camden Property Trust Trading Down 0.2%

NYSE:CPT traded down $0.24 during midday trading on Monday, hitting $107.43. The stock had a trading volume of 118,627 shares, compared to its average volume of 989,474. Camden Property Trust has a one year low of $102.35 and a one year high of $127.69. The company has a market capitalization of $11.48 billion, a price-to-earnings ratio of 75.11, a PEG ratio of 3.51 and a beta of 0.78. The stock has a 50-day moving average of $114.33 and a 200 day moving average of $115.93. The company has a quick ratio of 0.19, a current ratio of 0.18 and a debt-to-equity ratio of 0.82.

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. Camden Property Trust had a return on equity of 3.30% and a net margin of 9.99%. The business had revenue of $396.51 million for the quarter, compared to analysts' expectations of $393.24 million. During the same quarter last year, the firm earned $1.71 EPS. The business's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side 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 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 transaction, the director directly owned 117,374 shares in the company, valued at $13,939,336.24. The trade was a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Camden Property Trust

Institutional investors have recently made changes to their positions in the company. Northern Trust Corp raised its position in shares of Camden Property Trust by 33.7% during the 4th quarter. Northern Trust Corp now owns 1,420,076 shares of the real estate investment trust's stock valued at $164,786,000 after buying an additional 357,718 shares during the period. Natixis raised its position in 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 raised its position in 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 purchased a new stake in Camden Property Trust in the first quarter valued at approximately $1,421,000. Finally, Freestone Grove Partners LP purchased a new stake in Camden Property Trust in the fourth quarter valued at approximately $591,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

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.