UBS Group Forecasts Strong Price Appreciation for Camden Property Trust (NYSE:CPT) Stock

Camden Property Trust (NYSE:CPT) had its price objective lifted by UBS Group from $101.00 to $107.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group‘s price objective indicates a potential upside of 7.20% from the company’s current price.

Several other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $114.00 target price on shares of Camden Property Trust in a research report on Monday, July 20th. Truist Financial dropped their price target on Camden Property Trust from $123.00 to $108.00 and set a “buy” rating for the company in a report on Friday, September 25th. Stifel Nicolaus set a $123.25 price target on Camden Property Trust in a research note on Friday, July 31st. Piper Sandler decreased their price objective on Camden Property Trust from $119.00 to $102.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Finally, JPMorgan Chase & Co. increased their price objective on Camden Property Trust from $113.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $111.35.

Camden Property Trust Stock Performance

Shares of NYSE:CPT traded down $0.47 on Tuesday, hitting $99.81. The company had a trading volume of 678,212 shares, compared to its average volume of 1,121,278. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 7.77 and a beta of 0.75. The stock has a 50 day moving average price of $100.42 and a 200 day moving average price of $105.79. Camden Property Trust has a 1-year low of $95.30 and a 1-year high of $119.81. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.25.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, November 5th. The real estate investment trust reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. Camden Property Trust had a net margin of 20.80% and a return on equity of 7.66%. The company had revenue of $381.06 million during the quarter, compared to analysts’ expectations of $384.88 million. During the same quarter last year, the company posted $1.70 EPS. Camden Property Trust’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts expect that Camden Property Trust will post 6.75 EPS for the current year.

Institutional Investors Weigh In On Camden Property Trust

Large investors have recently added to or reduced their stakes in the stock. Aew Capital Management Inc. bought a new stake in Camden Property Trust during the third quarter worth about $85,702,000. Russell Investments Group Ltd. increased its holdings in Camden Property Trust by 120.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,463,966 shares of the real estate investment trust’s stock valued at $141,609,000 after buying an additional 800,168 shares during the period. Retirement Systems of Alabama increased its holdings in Camden Property Trust by 906.2% in the 3rd quarter. Retirement Systems of Alabama now owns 792,717 shares of the real estate investment trust’s stock valued at $76,680,000 after buying an additional 713,933 shares during the period. Danske Bank A S increased its holdings in Camden Property Trust by 626,941.0% in the 3rd quarter. Danske Bank A S now owns 627,041 shares of the real estate investment trust’s stock valued at $60,654,000 after buying an additional 626,941 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Camden Property Trust by 100.2% in the 1st quarter. Jennison Associates LLC now owns 1,206,854 shares of the real estate investment trust’s stock valued at $117,861,000 after buying an additional 603,997 shares in the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

About Camden Property Trust

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas. Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.