Zacks Investment Research upgraded shares of Camden Property Trust (NYSE:CPT) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. They currently have $120.00 price target on the real estate investment trust’s stock.
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 equities research analysts also recently issued research reports about the company. SunTrust Banks boosted their target price on Camden Property Trust to $108.00 and gave the stock a buy rating in a research report on Thursday, June 13th. KeyCorp lifted their price objective on Camden Property Trust from $105.00 to $112.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. DA Davidson cut Camden Property Trust from a buy rating to a neutral rating in a research note on Tuesday, July 23rd. Zelman & Associates raised Camden Property Trust from a sell rating to a hold rating in a research note on Monday, August 12th. Finally, Citigroup lifted their price objective on Camden Property Trust from $100.00 to $109.00 and gave the stock a neutral rating in a research note on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $102.92.
Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.84). The firm had revenue of $255.76 million for 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 company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 EPS. As a group, equities research analysts anticipate that Camden Property Trust will post 5.09 earnings per share for the current fiscal year.
In related news, Director William B. Mcguire sold 1,979 shares of Camden Property Trust stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $104.12, for a total transaction of $206,053.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO H Malcolm Stewart sold 16,200 shares of Camden Property Trust stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $107.17, for a total value of $1,736,154.00. Following the sale, the chief operating officer now directly owns 149,537 shares of the company’s stock, valued at $16,025,880.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,679 shares of company stock valued at $12,215,407. 3.40% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC grew its stake in Camden Property Trust by 200.7% in the second quarter. Nuveen Asset Management LLC now owns 2,446,092 shares of the real estate investment trust’s stock valued at $255,348,000 after acquiring an additional 1,632,600 shares during the period. Heitman Real Estate Securities LLC acquired a new position in Camden Property Trust in the second quarter valued at about $73,647,000. BlackRock Inc. grew its stake in Camden Property Trust by 3.2% in the first quarter. BlackRock Inc. now owns 13,184,993 shares of the real estate investment trust’s stock valued at $1,338,278,000 after acquiring an additional 408,477 shares during the period. Schroder Investment Management Group acquired a new position in Camden Property Trust in the second quarter valued at about $28,765,000. Finally, Vanguard Group Inc. grew its stake in Camden Property Trust by 1.8% in 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 acquiring an additional 255,978 shares during the period. 93.73% of the stock is owned by institutional investors and hedge funds.
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.
Read More: Stochastic Momentum Index (SMI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Camden Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Camden Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.