Morgan Stanley Lowers Camden Property Trust (NYSE:CPT) Price Target to $124.00

Key Points

• Morgan Stanley has lowered its price target for Camden Property Trust from $130.00 to $124.00, maintaining an "equal weight" rating on the stock, indicating a potential upside of 17.62% from the previous close.
• While one analyst has rated Camden Property Trust as a "sell," the consensus rating remains at "Hold" with an average price target of $125.59.
• The company reported earnings of $1.70 EPS for the last quarter, slightly above estimates, and its revenue increased by 2.4% compared to the same period last year.

Camden Property Trust (NYSE:CPT - Get Free Report) had its price objective reduced by research analysts at Morgan Stanley from $130.00 to $124.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the real estate investment trust's stock. Morgan Stanley's target price indicates a potential upside of 17.62% from the company's previous close.

Several other equities research analysts have also issued reports on the company. Wall Street Zen raised Camden Property Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Scotiabank decreased their price objective 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. Truist Financial set a $131.00 price objective on Camden Property Trust and gave the stock a "buy" rating in a report on Monday, May 19th. Mizuho decreased their price objective on Camden Property Trust from $130.00 to $122.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Camden Property Trust from $127.00 to $129.00 and gave the stock an "underweight" rating in a report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $125.59.

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock traded up $0.58 during trading hours on Wednesday, hitting $105.43. 159,217 shares of the company's stock traded hands, compared to its average volume of 983,420. Camden Property Trust has a 12-month low of $102.35 and a 12-month high of $127.69. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 73.75, a PEG ratio of 3.53 and a beta of 0.78. The company has a fifty day simple moving average of $113.18 and a 200-day simple moving average of $115.72. 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 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 firm had revenue of $396.51 million during the quarter, compared to analyst estimates of $393.24 million. During the same period last year, the firm posted $1.71 EPS. The business's revenue was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Insider Activity at Camden Property Trust

In other news, Director Steven A. Webster sold 1,200 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the completion of the transaction, the director owned 117,374 shares of the company's stock, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Camden Property Trust by 1.8% during the second quarter. Geode Capital Management LLC now owns 2,961,433 shares of the real estate investment trust's stock worth $332,432,000 after purchasing an additional 51,357 shares in the last quarter. Centersquare Investment Management LLC grew its holdings in shares of Camden Property Trust by 3.6% during the first quarter. Centersquare Investment Management LLC now owns 2,614,150 shares of the real estate investment trust's stock worth $319,711,000 after purchasing an additional 91,752 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Camden Property Trust by 9.2% during the first quarter. Wellington Management Group LLP now owns 2,271,077 shares of the real estate investment trust's stock worth $277,753,000 after purchasing an additional 192,133 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Camden Property Trust by 0.3% during the second quarter. JPMorgan Chase & Co. now owns 1,869,638 shares of the real estate investment trust's stock worth $210,690,000 after purchasing an additional 5,846 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Camden Property Trust by 4.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,604,077 shares of the real estate investment trust's stock worth $180,763,000 after purchasing an additional 66,039 shares in the last quarter. 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.

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