Camden Property Trust (NYSE:CPT) Upgraded to Buy at Zacks Investment Research

Camden Property Trust (NYSE:CPTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The firm currently has a $161.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price points to a potential upside of 15.13% from the company’s current price.

According to Zacks, “Camden Property Trust is one of the largest publicly traded multifamily companies in the United States. Structured as a Real Estate Investment Trust (REIT), the company is engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. “

Several other research firms also recently commented on CPT. Mizuho cut their target price on shares of Camden Property Trust from $179.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 16th. Barclays cut their target price on shares of Camden Property Trust from $193.00 to $174.00 in a research report on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Camden Property Trust from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, March 24th. Piper Sandler dropped their price target on shares of Camden Property Trust from $195.00 to $180.00 in a research report on Wednesday, May 4th. Finally, StockNews.com initiated coverage on shares of Camden Property Trust in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $170.71.

CPT stock traded down $3.72 during mid-day trading on Monday, hitting $139.84. The stock had a trading volume of 869,433 shares, compared to its average volume of 1,148,173. The company has a current ratio of 5.55, a quick ratio of 5.55 and a debt-to-equity ratio of 0.86. Camden Property Trust has a 52 week low of $129.33 and a 52 week high of $180.37. The firm has a market capitalization of $14.90 billion, a P/E ratio of 41.50, a P/E/G ratio of 4.04 and a beta of 0.78. The firm has a fifty day simple moving average of $155.56 and a 200 day simple moving average of $163.01.

Camden Property Trust (NYSE:CPTGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($1.07). Camden Property Trust had a net margin of 29.75% and a return on equity of 8.67%. The company had revenue of $311.36 million during the quarter, compared to analyst estimates of $308.90 million. During the same quarter in the previous year, the business posted $1.24 earnings per share. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities analysts expect that Camden Property Trust will post 6.5 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in shares of Camden Property Trust by 7.4% in the 1st quarter. Parallel Advisors LLC now owns 1,018 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 70 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Camden Property Trust by 0.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 11,268 shares of the real estate investment trust’s stock worth $1,873,000 after buying an additional 70 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Camden Property Trust by 4.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 1,705 shares of the real estate investment trust’s stock worth $305,000 after buying an additional 71 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Camden Property Trust by 2.8% in the 4th quarter. Huntington National Bank now owns 2,833 shares of the real estate investment trust’s stock worth $507,000 after buying an additional 76 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Camden Property Trust by 31.9% in the 4th quarter. Signaturefd LLC now owns 314 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 76 shares during the last quarter. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

Camden Property Trust Company Profile (Get Rating)

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.

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