Camden Property Trust (NYSE:CPT) Given New $115.00 Price Target at Scotiabank

Camden Property Trust (NYSE:CPT) had its target price lowered by investment analysts at Scotiabank from $126.00 to $115.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential upside of 15.44% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Wall Street Zen raised Camden Property Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Cantor Fitzgerald began coverage on Camden Property Trust in a report on Wednesday, October 1st. They set a “neutral” rating and a $115.00 price target on the stock. Stifel Nicolaus raised Camden Property Trust from a “hold” rating to a “buy” rating and set a $122.75 price target on the stock in a report on Tuesday, August 26th. Truist Financial lowered their price target on Camden Property Trust from $131.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, August 27th. Finally, Royal Bank Of Canada lowered their price target on Camden Property Trust from $120.00 to $118.00 and set a “sector perform” rating on the stock in a report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $120.05.

Camden Property Trust Stock Performance

Shares of CPT stock traded down $0.37 during mid-day trading on Tuesday, hitting $99.62. 882,820 shares of the stock were exchanged, compared to its average volume of 977,938. The stock’s fifty day simple moving average is $105.86 and its two-hundred day simple moving average is $110.94. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 69.67, a P/E/G ratio of 3.31 and a beta of 0.80. Camden Property Trust has a 12-month low of $97.17 and a 12-month high of $127.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.18 and a current ratio of 0.18.

Institutional Investors Weigh In On Camden Property Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. National Pension Service increased its stake in Camden Property Trust by 41.0% in the 3rd quarter. National Pension Service now owns 2,432 shares of the real estate investment trust’s stock valued at $260,000 after purchasing an additional 707 shares in the last quarter. Arizona State Retirement System increased its stake in Camden Property Trust by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 31,550 shares of the real estate investment trust’s stock valued at $3,369,000 after purchasing an additional 347 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Camden Property Trust by 11.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,454 shares of the real estate investment trust’s stock valued at $2,184,000 after purchasing an additional 2,059 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Camden Property Trust by 8.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 54,175 shares of the real estate investment trust’s stock valued at $5,785,000 after purchasing an additional 4,129 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in Camden Property Trust by 558.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 46,671 shares of the real estate investment trust’s stock valued at $4,984,000 after purchasing an additional 39,578 shares in the last quarter. 97.22% of the stock is currently 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.