KeyCorp Boosts Camden Property Trust (CPT) Price Target to $98.00
Camden Property Trust (NYSE:CPT) had its target price lifted by analysts at KeyCorp from $93.00 to $98.00 in a research report issued on Friday. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s price objective points to a potential upside of 4.03% from the company’s current price.
Other analysts also recently issued research reports about the company. Royal Bank Of Canada lifted their price objective on Camden Property Trust from $91.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. BidaskClub raised Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Sandler O’Neill raised Camden Property Trust from a “hold” rating to a “buy” rating and boosted their target price for the company from $93.00 to $105.00 in a research report on Tuesday, September 5th. Stifel Nicolaus began coverage on Camden Property Trust in a research report on Friday, September 1st. They issued a “buy” rating and a $99.00 price objective on the stock. Finally, Deutsche Bank AG upped their price objective on Camden Property Trust from $84.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Camden Property Trust presently has an average rating of “Hold” and a consensus price target of $91.07.
Camden Property Trust (CPT) traded up 0.48% during midday trading on Friday, reaching $94.20. 930,487 shares of the company’s stock traded hands. The stock has a market cap of $8.26 billion, a PE ratio of 21.07 and a beta of 0.38. Camden Property Trust has a one year low of $75.36 and a one year high of $96.39. The stock’s 50 day moving average price is $90.50 and its 200-day moving average price is $85.36.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.02. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The firm had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $222.44 million. During the same period in the previous year, the firm earned $1.15 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. Equities analysts predict that Camden Property Trust will post $1.71 earnings per share for the current year.
In other news, EVP William W. Sengelmann sold 5,085 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $90.15, for a total value of $458,412.75. Following the completion of the sale, the executive vice president now directly owns 71,836 shares of the company’s stock, valued at approximately $6,476,015.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President D Keith Oden sold 86,540 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $89.43, for a total value of $7,739,272.20. The disclosure for this sale can be found here. Insiders have sold a total of 118,584 shares of company stock valued at $10,618,035 over the last three months. 4.70% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of CPT. YorkBridge Wealth Partners LLC increased its position in Camden Property Trust by 6.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 67 shares during the period. Perigon Wealth Management LLC acquired a new position in Camden Property Trust during the 1st quarter worth approximately $110,000. Laurion Capital Management LP acquired a new position in Camden Property Trust during the 1st quarter worth approximately $201,000. Eqis Capital Management Inc. acquired a new position in Camden Property Trust during the 2nd quarter worth approximately $201,000. Finally, Sawtooth Solutions LLC increased its position in Camden Property Trust by 2.7% during the 2nd quarter. Sawtooth Solutions LLC now owns 2,701 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 72 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.
About Camden Property Trust
Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. As of December 31, 2016, the Company owned interests in, operated, or were developing 159 multifamily properties, which consisted of 55,366 apartment homes across the United States.
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