Camden Property Trust To See Over 5% Growth In Same-Store Sales In FY23 Amid Strong FFO: Analyst Projects
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Michael Lewis reiterated a Buy rating on Camden Property Trust (NYSE:CPT), raising the price target to $134 from $127. The analyst projects 5.2% YoY same-store revenue growth in 2023 and 4.6% SSNOI growth. The 2023 FFO estimate was increased to $6.86 per share, primarily due to higher same-store growth projections. For FY24, the FFO estimate was raised to $7.23 per share. However, CPT shares are trading lower by 1.21% to $108.57.
August 08, 2023 | 7:26 pm
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Camden Property Trust's price target has been raised by Truist Securities analyst Michael Lewis, who also reiterated a Buy rating. The analyst projects 5.2% YoY same-store revenue growth in 2023 and 4.6% SSNOI growth. However, CPT shares are currently trading lower.
The analyst's positive outlook and raised price target for Camden Property Trust indicate a potential increase in the company's stock price. However, the current trading price is lower, which may be due to other market factors.
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IMPORTANCE 80
RELEVANCE 100