Evercore ISI Cuts Camden Property Trust (NYSE:CPT) Price Target to $108.00

Camden Property Trust (NYSE:CPT) had its price target dropped by research analysts at Evercore ISI from $115.00 to $108.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would indicate a potential upside of 8.53% from the stock’s previous close.

Several other brokerages have also recently weighed in on CPT. Cantor Fitzgerald began coverage on Camden Property Trust in a research note on Wednesday, October 1st. They set a “neutral” rating and a $115.00 price objective on the stock. Royal Bank Of Canada decreased their target price on Camden Property Trust from $120.00 to $118.00 and set a “sector perform” rating for the company in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Camden Property Trust in a research report on Wednesday, October 8th. Scotiabank decreased their target price on Camden Property Trust from $136.00 to $133.00 and set a “sector perform” rating for the company in a research report on Thursday, August 14th. Finally, Citigroup decreased their target price on Camden Property Trust from $138.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 14th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $121.17.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $99.51 on Monday. 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 stock’s fifty day simple moving average is $106.04 and its two-hundred day simple moving average is $111.02. Camden Property Trust has a 1-year low of $97.17 and a 1-year high of $127.65. The stock has a market cap of $10.63 billion, a PE ratio of 69.59, a price-to-earnings-growth ratio of 3.31 and a beta of 0.80.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.70 earnings per share 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 business had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $393.24 million. During the same period last year, the business earned $1.71 EPS. The business’s revenue was up 2.4% on a year-over-year basis. As a group, analysts forecast that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Camden Property Trust

Several large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in Camden Property Trust by 16.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 620 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 89 shares during the last quarter. Country Club Bank grew its holdings in Camden Property Trust by 0.4% during the 1st quarter. Country Club Bank now owns 26,200 shares of the real estate investment trust’s stock valued at $3,204,000 after buying an additional 92 shares in the last quarter. Forsta AP Fonden grew its holdings in Camden Property Trust by 0.6% during the 2nd quarter. Forsta AP Fonden now owns 17,400 shares of the real estate investment trust’s stock valued at $1,961,000 after buying an additional 100 shares in the last quarter. Intact Investment Management Inc. grew its holdings in Camden Property Trust by 16.7% during the 2nd quarter. Intact Investment Management Inc. now owns 700 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 100 shares in the last quarter. Finally, First Manhattan CO. LLC. grew its holdings in Camden Property Trust by 0.3% during the 1st quarter. First Manhattan CO. LLC. now owns 30,878 shares of the real estate investment trust’s stock valued at $3,809,000 after buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

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.