JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Camden Property Trust (NYSE:CPT) Stock

Camden Property Trust (NYSE:CPT) had its price target hoisted by analysts at JPMorgan Chase & Co. from $127.00 to $129.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.62% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Truist Financial set a $131.00 price objective on shares of Camden Property Trust and gave the company a “buy” rating in a research report on Monday, May 19th. Mizuho decreased their price objective on shares of Camden Property Trust from $130.00 to $122.00 and set an “outperform” rating for the company in a research report on Friday, May 23rd. Wall Street Zen cut shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th. Scotiabank decreased their price objective on shares of Camden Property Trust from $144.00 to $136.00 and set a “sector perform” rating for the company in a research report on Friday, June 13th. Finally, Barclays boosted their target price on shares of Camden Property Trust from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Camden Property Trust currently has an average rating of “Hold” and a consensus price target of $129.39.

Camden Property Trust Trading Down 0.3%

CPT opened at $115.57 on Tuesday. The firm’s 50 day moving average is $115.55 and its 200-day moving average is $116.69. Camden Property Trust has a 52-week low of $102.35 and a 52-week high of $127.69. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $12.35 billion, a P/E ratio of 106.03, a P/E/G ratio of 3.51 and a beta of 0.78.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.04. The firm had revenue of $390.57 million for 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 quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.70 EPS. Analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Insider Activity at Camden Property Trust

In other Camden Property Trust news, CEO Richard J. Campo sold 5,572 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $119.50, for a total value of $665,854.00. Following the completion of the transaction, the chief executive officer now owns 289,720 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, Director Steven A. Webster sold 1,200 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $118.76, for a total transaction of $142,512.00. Following the completion of the transaction, the director now owns 117,374 shares of the company’s stock, valued at approximately $13,939,336.24. This trade represents a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Camden Property Trust by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,250,406 shares of the real estate investment trust’s stock worth $2,001,737,000 after purchasing an additional 125,287 shares during the last quarter. Victory Capital Management Inc. grew its position in Camden Property Trust by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 4,400,846 shares of the real estate investment trust’s stock worth $510,674,000 after purchasing an additional 277,117 shares during the last quarter. Invesco Ltd. grew its position in Camden Property Trust by 17.3% in the 4th quarter. Invesco Ltd. now owns 2,968,221 shares of the real estate investment trust’s stock worth $344,432,000 after purchasing an additional 438,685 shares during the last quarter. Geode Capital Management LLC grew its position in Camden Property Trust by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,816,260 shares of the real estate investment trust’s stock worth $326,032,000 after purchasing an additional 76,429 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its position in Camden Property Trust by 3.6% in the 1st quarter. Centersquare Investment Management LLC now owns 2,614,150 shares of the real estate investment trust’s stock worth $319,711,000 after purchasing an additional 91,752 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

Camden Property Trust Company Profile

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.