Camden Property Trust (NYSE:CPT) Price Target Raised to $118.00 at Evercore ISI

Camden Property Trust (NYSE:CPT) had its target price raised by equities researchers at Evercore ISI from $116.00 to $118.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective would suggest a potential downside of 4.83% from the company’s previous close.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of Camden Property Trust in a report on Wednesday, September 4th. They issued a “neutral” rating and a $139.00 price target on the stock. Wells Fargo & Company upgraded Camden Property Trust from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $104.00 to $127.00 in a research note on Monday, August 26th. Royal Bank of Canada lowered Camden Property Trust from an “outperform” rating to a “sector perform” rating and set a $122.00 price objective on the stock. in a report on Monday, September 9th. BNP Paribas began coverage on Camden Property Trust in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $129.00 target price for the company. Finally, Bank of America raised Camden Property Trust from an “underperform” rating to a “buy” rating and raised their target price for the stock from $111.00 to $147.00 in a research report on Monday, August 12th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Camden Property Trust currently has a consensus rating of “Hold” and a consensus target price of $121.69.

Camden Property Trust Price Performance

Shares of CPT opened at $123.99 on Monday. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 4.60 and a beta of 0.90. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.72. Camden Property Trust has a twelve month low of $82.81 and a twelve month high of $127.23. The firm’s fifty day simple moving average is $118.03 and its 200-day simple moving average is $107.96.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. The business had revenue of $387.15 million for the quarter, compared to analyst estimates of $384.76 million. During the same quarter last year, the company posted $1.70 EPS. Equities analysts forecast that Camden Property Trust will post 6.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CPT. Vanguard Group Inc. grew its holdings in Camden Property Trust by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock worth $1,701,521,000 after acquiring an additional 289,425 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Camden Property Trust by 5.0% during the second quarter. Victory Capital Management Inc. now owns 4,314,030 shares of the real estate investment trust’s stock worth $470,704,000 after purchasing an additional 206,654 shares in the last quarter. Norges Bank bought a new stake in shares of Camden Property Trust during the fourth quarter valued at approximately $376,933,000. Centersquare Investment Management LLC increased its holdings in shares of Camden Property Trust by 64.2% in the first quarter. Centersquare Investment Management LLC now owns 2,296,741 shares of the real estate investment trust’s stock valued at $228,939,000 after purchasing an additional 898,398 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Camden Property Trust by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,597,441 shares of the real estate investment trust’s stock worth $174,299,000 after purchasing an additional 54,475 shares during the last quarter. 97.22% of the stock is owned by 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.