Evercore ISI Increases Camden Property Trust (NYSE:CPT) Price Target to $116.00

Camden Property Trust (NYSE:CPT) had its price objective increased by Evercore ISI from $115.00 to $116.00 in a research report report published on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

A number of other brokerages have also recently weighed in on CPT. Royal Bank of Canada cut 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. Truist Financial lifted their price target on shares of Camden Property Trust from $122.00 to $133.00 and gave the stock a buy rating in a research note on Monday, August 26th. Wells Fargo & Company raised shares of Camden Property Trust from an underweight rating to an equal weight rating and upped their price objective for the company from $104.00 to $127.00 in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their target price on shares of Camden Property Trust from $104.00 to $112.00 and gave the stock a neutral rating in a research report on Monday, June 17th. Finally, UBS Group upped their price target on shares of Camden Property Trust from $109.00 to $117.00 and gave the company a neutral rating in a research report on Thursday, July 18th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $120.25.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $123.11 on Monday. The company’s fifty day moving average price is $117.02 and its 200-day moving average price is $107.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 4.59 and a beta of 0.90. Camden Property Trust has a one year low of $82.81 and a one year high of $127.23.

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 (EPS) 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 company had revenue of $387.15 million during the quarter, compared to analysts’ expectations of $384.76 million. During the same quarter last year, the firm posted $1.70 earnings per share. On average, equities research analysts anticipate that Camden Property Trust will post 6.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camden Property Trust

Several hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Camden Property Trust in the fourth quarter worth $376,933,000. Centersquare Investment Management LLC boosted its stake in Camden Property Trust by 2,517.6% during the fourth quarter. Centersquare Investment Management LLC now owns 1,398,343 shares of the real estate investment trust’s stock worth $138,841,000 after acquiring an additional 1,344,923 shares in the last quarter. Duquesne Family Office LLC purchased a new stake in Camden Property Trust in the second quarter worth about $63,056,000. Vanguard Group Inc. increased its stake in shares of Camden Property Trust by 1.7% during the first quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock valued at $1,701,521,000 after purchasing an additional 289,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Camden Property Trust by 23.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,465,159 shares of the real estate investment trust’s stock valued at $145,478,000 after purchasing an additional 277,634 shares in the last quarter. 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.