Citigroup Upgrades Camden Property Trust (NYSE:CPT) to “Buy”

Camden Property Trust (NYSE:CPT) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Friday, MarketBeat reports. The firm currently has a $138.00 price target on the real estate investment trust’s stock, up from their previous price target of $125.00. Citigroup’s price objective suggests a potential upside of 12.96% from the company’s current price.

Several other equities analysts also recently issued reports on CPT. JPMorgan Chase & Co. downgraded shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $129.00 to $128.00 in a report on Tuesday, December 17th. Wells Fargo & Company decreased their target price on Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Evercore ISI increased their price objective on Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Stifel Nicolaus upped their target price on shares of Camden Property Trust from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada boosted 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 research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $127.76.

Camden Property Trust Stock Up 0.2 %

Shares of CPT stock opened at $122.17 on Friday. Camden Property Trust has a fifty-two week low of $94.75 and a fifty-two week high of $127.69. The stock’s 50-day simple moving average is $118.57 and its 200-day simple moving average is $119.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. The firm has a market capitalization of $13.04 billion, a PE ratio of 81.45, a P/E/G ratio of 4.41 and a beta of 0.94.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results 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 return on equity of 3.35% and a net margin of 10.58%. Equities analysts expect that Camden Property Trust will post 6.76 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Heather J. Brunner sold 264 shares of Camden Property Trust stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total transaction of $29,055.84. Following the sale, the director now owns 10,273 shares in the company, valued at approximately $1,130,646.38. The trade was a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alexander J. Jessett sold 1,862 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total value of $204,931.72. Following the transaction, the chief financial officer now owns 122,384 shares in the company, valued at $13,469,583.04. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,548 shares of company stock worth $2,912,212. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Camden Property Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. grew its holdings in Camden Property Trust by 6.5% in the fourth quarter. Federated Hermes Inc. now owns 1,466 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 90 shares during the period. UMB Bank n.a. increased its stake in Camden Property Trust by 76.6% during the fourth quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 98 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Camden Property Trust by 0.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,117 shares of the real estate investment trust’s stock worth $2,102,000 after purchasing an additional 98 shares during the period. First American Bank raised its holdings in Camden Property Trust by 1.0% in the fourth quarter. First American Bank now owns 10,846 shares of the real estate investment trust’s stock valued at $1,259,000 after buying an additional 104 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Camden Property Trust by 2.5% during the fourth quarter. Fisher Asset Management LLC now owns 4,297 shares of the real estate investment trust’s stock valued at $499,000 after buying an additional 105 shares in the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

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.