Camden Property Trust (NYSE:CPT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage currently has a $123.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.60% 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. “

Other research analysts also recently issued reports about the company. SunTrust Banks lifted their price target on Camden Property Trust to $108.00 and gave the company a “buy” rating in a report on Thursday, June 13th. DA Davidson cut Camden Property Trust from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 23rd. Citigroup raised their price objective on Camden Property Trust from $100.00 to $109.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. KeyCorp lifted their target price on Camden Property Trust from $105.00 to $112.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Zelman & Associates upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Camden Property Trust presently has a consensus rating of “Buy” and a consensus target price of $104.00.

Shares of NYSE CPT traded down $0.64 during midday trading on Wednesday, reaching $109.24. 401,804 shares of the company’s stock traded hands, compared to its average volume of 506,497. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 3.17 and a beta of 0.43. The stock’s 50 day simple moving average is $106.67 and its 200-day simple moving average is $103.64. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.67. Camden Property Trust has a one year low of $83.67 and a one year high of $111.00.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.84). The business had revenue of $255.76 million during the quarter, compared to the consensus estimate of $252.76 million. Camden Property Trust had a return on equity of 4.48% and a net margin of 16.05%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $1.00 EPS. Equities analysts predict that Camden Property Trust will post 5.09 EPS for the current fiscal year.

In other news, Director William B. Mcguire sold 1,979 shares of Camden Property Trust stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $104.12, for a total transaction of $206,053.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO H Malcolm Stewart sold 16,200 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $107.17, for a total transaction of $1,736,154.00. Following the sale, the chief operating officer now directly owns 149,537 shares in the company, valued at $16,025,880.29. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC grew its stake in shares of Camden Property Trust by 200.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,446,092 shares of the real estate investment trust’s stock worth $255,348,000 after purchasing an additional 1,632,600 shares during the period. Heitman Real Estate Securities LLC purchased a new stake in Camden Property Trust during the second quarter worth $73,647,000. BlackRock Inc. boosted its holdings in Camden Property Trust by 3.2% during the first quarter. BlackRock Inc. now owns 13,184,993 shares of the real estate investment trust’s stock worth $1,338,278,000 after buying an additional 408,477 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Camden Property Trust during the second quarter valued at $28,765,000. Finally, Vanguard Group Inc. grew its position in Camden Property Trust by 1.8% during the second quarter. Vanguard Group Inc. now owns 14,426,035 shares of the real estate investment trust’s stock valued at $1,505,934,000 after buying an additional 255,978 shares during the period. Institutional investors and hedge funds own 93.41% of the company’s stock.

Camden Property Trust Company Profile

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.

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