Evercore ISI Lowers Camden Property Trust (NYSE:CPT) Price Target to $114.00

Key Points

• Evercore ISI has lowered the price target for Camden Property Trust from $117.00 to $114.00, maintaining an "in-line" rating, which indicates a potential upside of 9.55% from the stock's previous close.
• Other brokerages have also revised their price targets for Camden Property Trust, with Mizuho and UBS setting targets of $122.00 and $114.00, respectively, while the average target price now stands at $127.47.
• Recent quarterly earnings reported a $1.70 EPS, exceeding analysts' expectations, alongside a 2.4% increase in revenue compared to the previous year.

Camden Property Trust (NYSE:CPT - Get Free Report) had its price target lowered by investment analysts at Evercore ISI from $117.00 to $114.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price target suggests a potential upside of 9.55% from the stock's previous close.

Several other brokerages have also recently issued reports on CPT. Mizuho reduced their price objective on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. UBS Group reduced their price objective on Camden Property Trust from $126.00 to $114.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Wall Street Zen upgraded Camden Property Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. boosted 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. Finally, 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 report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $127.47.

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock opened at $104.06 on Tuesday. Camden Property Trust has a 12 month low of $102.35 and a 12 month high of $127.69. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $113.44 and a two-hundred day simple moving average of $115.80. The firm has a market capitalization of $11.12 billion, a P/E ratio of 72.77, a P/E/G ratio of 3.51 and a beta of 0.78.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.01. The company 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 firm's revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.71 EPS. On average, equities analysts forecast that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven A. Webster sold 1,200 shares of Camden Property Trust stock in a transaction 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 owned 117,374 shares in the company, valued at $13,939,336.24. The trade was a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Camden Property Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ensign Peak Advisors Inc grew its holdings in Camden Property Trust by 3.4% in the second quarter. Ensign Peak Advisors Inc now owns 64,926 shares of the real estate investment trust's stock valued at $7,317,000 after purchasing an additional 2,143 shares during the last quarter. Saturna Capital Corp raised its stake in Camden Property Trust by 10.1% during the 2nd quarter. Saturna Capital Corp now owns 5,990 shares of the real estate investment trust's stock valued at $675,000 after acquiring an additional 550 shares in the last quarter. Bedell Frazier Investment Counselling LLC grew its holdings in shares of Camden Property Trust by 1.7% in the 2nd quarter. Bedell Frazier Investment Counselling LLC now owns 8,214 shares of the real estate investment trust's stock worth $926,000 after acquiring an additional 140 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Camden Property Trust by 2.5% during the second quarter. Nomura Asset Management Co. Ltd. now owns 186,095 shares of the real estate investment trust's stock valued at $20,971,000 after purchasing an additional 4,553 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Camden Property Trust by 22.4% in the second quarter. Ontario Teachers Pension Plan Board now owns 48,367 shares of the real estate investment trust's stock worth $5,450,000 after buying an additional 8,842 shares during the last quarter. 97.22% of the stock is 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.

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