Citigroup Lowers Camden Property Trust (NYSE:CPT) Price Target to $130.00

Camden Property Trust (NYSE:CPT) had its price objective cut by Citigroup from $138.00 to $130.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s price objective indicates a potential upside of 21.70% from the stock’s current price.

A number of other research firms have also weighed in on CPT. Truist Financial set a $131.00 target price on shares of Camden Property Trust and gave the stock a “buy” rating in a report on Monday, May 19th. Royal Bank Of Canada decreased their price objective on shares of Camden Property Trust from $120.00 to $118.00 and set a “sector perform” rating for the company in a research note on Monday, August 4th. Barclays decreased their price objective on shares of Camden Property Trust from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Tuesday. Evercore ISI decreased their price objective on shares of Camden Property Trust from $117.00 to $114.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Camden Property Trust from $127.00 to $129.00 and gave the company an “underweight” rating in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $124.94.

Camden Property Trust Trading Up 0.8%

CPT opened at $106.82 on Thursday. 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 has a fifty-two week low of $102.35 and a fifty-two week high of $127.69. The firm has a market capitalization of $11.41 billion, a PE ratio of 74.70, a P/E/G ratio of 3.60 and a beta of 0.78. The company’s 50-day moving average is $112.59 and its 200 day moving average is $115.57.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.01. Camden Property Trust had a net margin of 9.99% and a return on equity of 3.30%. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.24 million. During the same quarter in the prior year, the business posted $1.71 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, research analysts predict that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bellwether Advisors LLC bought a new position in Camden Property Trust in the 4th quarter valued at $31,000. Loomis Sayles & Co. L P bought a new position in Camden Property Trust in the 2nd quarter valued at $32,000. Cape Investment Advisory Inc. bought a new position in Camden Property Trust in the 1st quarter valued at $37,000. MUFG Securities EMEA plc bought a new position in Camden Property Trust in the 2nd quarter valued at $35,000. Finally, IFP Advisors Inc boosted its holdings in Camden Property Trust by 45.7% in the 2nd quarter. IFP Advisors Inc now owns 322 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 101 shares during the period. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

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.