Scotiabank Cuts Camden Property Trust (NYSE:CPT) Price Target to $136.00

Camden Property Trust (NYSE:CPTGet Free Report) had its price objective dropped by investment analysts at Scotiabank from $144.00 to $136.00 in a report released on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price suggests a potential upside of 17.28% from the stock’s current price.

Several other brokerages also recently issued reports on CPT. Mizuho lowered their price target on 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. Citigroup upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $125.00 to $138.00 in a research note on Friday, March 28th. Truist Financial set a $131.00 target price on shares of Camden Property Trust and gave the company a “buy” rating in a research note on Monday, May 19th. Jefferies Financial Group upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and raised their price target for the stock from $117.00 to $139.00 in a research report on Monday, March 10th. Finally, Barclays lifted their target price on Camden Property Trust from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $129.33.

Read Our Latest Stock Report on Camden Property Trust

Camden Property Trust Stock Down 2.1%

Shares of CPT stock opened at $115.96 on Friday. The stock’s 50 day simple moving average is $115.20 and its 200 day simple moving average is $116.84. 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 0.73, a quick ratio of 0.15 and a current ratio of 0.14. The company has a market capitalization of $12.39 billion, a price-to-earnings ratio of 77.31, a PEG ratio of 4.41 and a beta of 0.78.

Camden Property Trust (NYSE:CPTGet Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. The company had revenue of $390.57 million for the quarter, compared to analyst estimates of $388.47 million. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 earnings per share. As a group, research analysts predict that Camden Property Trust will post 6.76 EPS for the current year.

Insider Buying and Selling at Camden Property Trust

In other news, CEO Richard J. Campo sold 5,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total value of $665,854.00. Following the transaction, the chief executive officer now directly owns 289,720 shares of the company’s stock, valued at $34,621,540. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Webster sold 1,200 shares of Camden Property Trust stock in a transaction on Friday, May 16th. The shares were sold at an average price of $118.76, for a total value of $142,512.00. Following the completion of the transaction, the director now owns 117,374 shares of the company’s stock, valued at approximately $13,939,336.24. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Camden Property Trust by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 17,250,406 shares of the real estate investment trust’s stock worth $2,001,737,000 after acquiring an additional 125,287 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Camden Property Trust by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock worth $510,674,000 after acquiring an additional 277,117 shares during the last quarter. Invesco Ltd. boosted its holdings in Camden Property Trust by 17.3% in the fourth quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust’s stock valued at $344,432,000 after acquiring an additional 438,685 shares during the last quarter. Geode Capital Management LLC increased its position in Camden Property Trust by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 2,816,260 shares of the real estate investment trust’s stock worth $326,032,000 after purchasing an additional 76,429 shares during the period. Finally, Centersquare Investment Management LLC lifted its position in Camden Property Trust by 3.6% during the 1st quarter. Centersquare Investment Management LLC now owns 2,614,150 shares of the real estate investment trust’s stock valued at $319,711,000 after purchasing an additional 91,752 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.

Camden Property Trust Company Profile

(Get Free Report)

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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