Camden Property Trust (NYSE:CPT) Stock Price Expected to Rise, Barclays Analyst Says

Camden Property Trust (NYSE:CPT) had its price objective upped by equities researchers at Barclays from $136.00 to $137.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price would suggest a potential upside of 20.37% from the company’s current price.

A number of other brokerages have also issued reports on CPT. Wall Street Zen lowered Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th. Mizuho dropped 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. Truist Financial set a $131.00 price target on Camden Property Trust and gave the company a “buy” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. upped their price target on Camden Property Trust from $127.00 to $129.00 and gave the company an “underweight” rating in a research report on Tuesday, June 17th. Finally, Scotiabank lowered their price objective on Camden Property Trust from $144.00 to $136.00 and set a “sector perform” rating for the company in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Camden Property Trust has an average rating of “Hold” and an average target price of $129.44.

Camden Property Trust Price Performance

CPT stock opened at $113.82 on Tuesday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.80. The business has a 50 day simple moving average of $115.98 and a 200-day simple moving average of $116.05. Camden Property Trust has a twelve month low of $102.35 and a twelve month high of $127.69. The company has a market capitalization of $12.16 billion, a P/E ratio of 104.56, a PEG ratio of 3.77 and a beta of 0.77.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. The firm had revenue of $390.57 million during the quarter, compared to the consensus estimate of $388.47 million. Camden Property Trust had a net margin of 7.62% and a return on equity of 2.47%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.70 EPS. As a group, equities analysts anticipate that Camden Property Trust will post 6.76 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Richard J. Campo sold 5,572 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total transaction of $665,854.00. Following the sale, the chief executive officer directly owned 289,720 shares of the company’s stock, valued at approximately $34,621,540. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven A. Webster sold 1,200 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $118.76, for a total value of $142,512.00. Following the sale, the director directly owned 117,374 shares in the company, valued at approximately $13,939,336.24. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Camden Property Trust

Large investors have recently modified their holdings of the stock. Northern Trust Corp lifted its position in shares of Camden Property Trust by 33.7% during the 4th quarter. Northern Trust Corp now owns 1,420,076 shares of the real estate investment trust’s stock worth $164,786,000 after buying an additional 357,718 shares during the last quarter. Natixis raised its position in Camden Property Trust by 741.3% in the fourth quarter. Natixis now owns 18,063 shares of the real estate investment trust’s stock valued at $2,096,000 after purchasing an additional 15,916 shares during the last quarter. Vanguard Group Inc. raised its position in 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 valued at $2,001,737,000 after purchasing an additional 125,287 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Camden Property Trust by 6.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 244,789 shares of the real estate investment trust’s stock valued at $28,657,000 after purchasing an additional 13,784 shares during the last quarter. Finally, Jump Financial LLC raised its position in Camden Property Trust by 32.1% in the fourth quarter. Jump Financial LLC now owns 20,777 shares of the real estate investment trust’s stock valued at $2,411,000 after purchasing an additional 5,051 shares during the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

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.