Camden Property Trust (NYSE:CPT) Raised to Buy at Citigroup

Camden Property Trust (NYSE:CPT) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage currently has a $138.00 target price on the real estate investment trust’s stock, up from their previous target price of $125.00. Citigroup’s price target would suggest a potential upside of 13.17% from the company’s current price.

Several other research analysts also recently commented on CPT. Stifel Nicolaus boosted their target price on Camden Property Trust from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Scotiabank increased their price objective on shares of Camden Property Trust from $130.00 to $135.00 and gave the company a “sector perform” rating in a research note on Friday, February 14th. Mizuho cut their target price on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada upped their price target on shares of Camden Property Trust from $121.00 to $123.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Finally, Barclays raised their price objective on Camden Property Trust from $126.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $127.76.

Camden Property Trust Price Performance

CPT stock opened at $121.94 on Friday. The company’s 50-day moving average price is $118.37 and its two-hundred day moving average price is $119.24. The firm has a market cap of $13.02 billion, a P/E ratio of 81.29, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. Camden Property Trust has a 12 month low of $94.75 and a 12 month high of $127.69.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. On average, analysts anticipate that Camden Property Trust will post 6.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Camden Property Trust

In related news, CEO Richard J. Campo sold 7,324 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $838,598.00. Following the completion of the sale, the chief executive officer now directly owns 300,135 shares of the company’s stock, valued at $34,365,457.50. The trade was a 2.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Heather J. Brunner sold 1,853 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $212,168.50. Following the completion of the transaction, the director now owns 10,537 shares in the company, valued at approximately $1,206,486.50. The trade was a 14.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,548 shares of company stock valued at $2,912,212. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Camden Property Trust

A number of large investors have recently modified their holdings of CPT. SMART Wealth LLC bought a new position in shares of Camden Property Trust in the third quarter valued at $829,000. Nordea Investment Management AB lifted its position in Camden Property Trust by 15.0% in the 4th quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock valued at $11,339,000 after acquiring an additional 12,805 shares in the last quarter. Franklin Resources Inc. boosted its stake in Camden Property Trust by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock valued at $23,174,000 after purchasing an additional 5,985 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Camden Property Trust by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock worth $66,563,000 after purchasing an additional 51,097 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its stake in shares of Camden Property Trust by 7.7% in the fourth quarter. Atomi Financial Group Inc. now owns 2,335 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 166 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors.

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.