Camden Property Trust (NYSE:CPT) Upgraded by Citigroup to Buy Rating

Camden Property Trust (NYSE:CPT) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage presently has a $138.00 target price on the real estate investment trust’s stock, up from their previous target price of $125.00. Citigroup’s target price suggests a potential upside of 13.17% from the stock’s current price.

Other equities analysts have also issued reports about the company. Barclays raised their price target on Camden Property Trust from $126.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Truist Financial upped their target price on shares of Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Evercore ISI raised their price target on shares of Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their target price on Camden Property Trust from $121.00 to $123.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Finally, Jefferies Financial Group upgraded Camden Property Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $117.00 to $139.00 in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $127.76.

Camden Property Trust Price Performance

CPT opened at $121.94 on Friday. The firm has a market cap of $13.02 billion, a P/E ratio of 81.29, a PEG ratio of 4.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. Camden Property Trust has a fifty-two week low of $94.75 and a fifty-two week high of $127.69. The firm has a 50-day moving average of $118.37 and a 200 day moving average of $119.24.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. On average, research analysts expect that Camden Property Trust will post 6.76 EPS for the current year.

Insider Activity at Camden Property Trust

In other news, CEO Richard J. Campo sold 1,043 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $114,792.58. Following the completion of the sale, the chief executive officer now directly owns 299,092 shares in the company, valued at approximately $32,918,065.52. This represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heather J. Brunner sold 1,853 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total value of $212,168.50. Following the transaction, the director now owns 10,537 shares in the company, valued at approximately $1,206,486.50. This represents a 14.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,548 shares of company stock worth $2,912,212 in the last ninety days. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Camden Property Trust

Several hedge funds have recently made changes to their positions in CPT. SMART Wealth LLC purchased a new position in Camden Property Trust during the 3rd quarter valued at $829,000. Nordea Investment Management AB increased its position in shares of Camden Property Trust by 15.0% during the fourth quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock valued at $11,339,000 after buying an additional 12,805 shares during the period. Franklin Resources Inc. raised its stake in Camden Property Trust by 3.2% in the third quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock worth $23,174,000 after buying an additional 5,985 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Camden Property Trust by 10.5% in the third quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock worth $66,563,000 after buying an additional 51,097 shares during the period. Finally, Atomi Financial Group Inc. grew its holdings in shares of Camden Property Trust by 7.7% during the 4th quarter. Atomi Financial Group Inc. now owns 2,335 shares of the real estate investment trust’s stock worth $271,000 after acquiring an additional 166 shares during the period. 97.22% of the stock is 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.