Camden Property Trust (NYSE:CPT) Given New $108.00 Price Target at SunTrust Banks

Camden Property Trust (NYSE:CPT) had its target price boosted by SunTrust Banks to $108.00 in a research note issued to investors on Thursday morning, The Fly reports. SunTrust Banks currently has a buy rating on the real estate investment trust’s stock. SunTrust Banks also issued estimates for Camden Property Trust’s Q3 2019 earnings at $1.27 EPS, Q4 2019 earnings at $1.30 EPS, FY2019 earnings at $5.06 EPS, Q2 2020 earnings at $1.35 EPS, Q3 2020 earnings at $1.34 EPS, Q4 2020 earnings at $1.35 EPS and FY2020 earnings at $5.34 EPS.

A number of other research analysts also recently commented on CPT. Barclays reaffirmed a buy rating and issued a $108.00 target price on shares of Camden Property Trust in a research report on Tuesday, April 16th. Sandler O’Neill downgraded shares of Camden Property Trust from a buy rating to a hold rating in a research report on Friday, April 5th. Finally, KeyCorp increased their price target on shares of Camden Property Trust from $98.00 to $105.00 and gave the stock an overweight rating in a research note on Tuesday, March 19th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Camden Property Trust has an average rating of Buy and a consensus price target of $100.53.

NYSE CPT opened at $106.16 on Thursday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $10.26 billion, a P/E ratio of 22.26, a P/E/G ratio of 3.19 and a beta of 0.47. Camden Property Trust has a 12 month low of $83.67 and a 12 month high of $106.92.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.22. The firm had revenue of $248.57 million for the quarter, compared to the consensus estimate of $246.50 million. Camden Property Trust had a net margin of 15.98% and a return on equity of 4.45%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $1.15 EPS. On average, research analysts forecast that Camden Property Trust will post 5.07 EPS for the current fiscal year.

In other news, Director William F. Paulsen sold 1,979 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $102.19, for a total value of $202,234.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President D Keith Oden sold 37,500 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $105.44, for a total transaction of $3,954,000.00. Following the completion of the sale, the president now owns 291,083 shares of the company’s stock, valued at approximately $30,691,791.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,479 shares of company stock valued at $10,475,434. 3.40% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in CPT. FIL Ltd increased its stake in shares of Camden Property Trust by 14.4% in the first quarter. FIL Ltd now owns 180,251 shares of the real estate investment trust’s stock valued at $18,295,000 after buying an additional 22,756 shares in the last quarter. Timbercreek Investment Management Inc. increased its stake in shares of Camden Property Trust by 1.6% in the first quarter. Timbercreek Investment Management Inc. now owns 64,664 shares of the real estate investment trust’s stock valued at $6,563,000 after buying an additional 1,000 shares in the last quarter. CI Investments Inc. acquired a new stake in shares of Camden Property Trust in the fourth quarter valued at $12,458,000. Perpetual Ltd increased its stake in shares of Camden Property Trust by 156.1% in the fourth quarter. Perpetual Ltd now owns 42,000 shares of the real estate investment trust’s stock valued at $3,667,000 after buying an additional 25,600 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in shares of Camden Property Trust by 7.6% in the fourth quarter. Bahl & Gaynor Inc. now owns 124,201 shares of the real estate investment trust’s stock valued at $10,936,000 after buying an additional 8,761 shares in the last quarter. Institutional investors own 93.17% of the company’s stock.

About Camden Property Trust

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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