Streetbeat News

CPT

Camden Property Trust

https://www.camdenliving.com

Industry

REIT - Residential

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States. Upon completion of 7 properties currently under development, the Company's portfolio will increase to 59,104 apartment homes in 174 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 13 consecutive years, most recently ranking #18. The Company also received a Glassdoor Employees' Choice Award in 2020, ranking #25 for large U.S. companies.

Open

119.73

Mkt cap

13B

Volume

864K

High

120.85

P/E Ratio

38.76

52-wk high

127.69

Low

118.79

Div yield

0.03

52-wk low

86.50

A Bloomberg survey reveals a bleak outlook for the U.S. office real estate market, with a majority of respondents predicting a severe downturn before recovery. The $1.5 trillion commercial real estate debt due by 2025, particularly the 25% tied to office buildings, is at risk. The Federal Reserve's tightening campaign has increased financing costs and reduced commercial property values. Regional banks, holding about 30% of office building debt, are under stress. The Real Estate Select Sector SPDR Fund (NYSE:XLRE) declined by 0.6% on Monday, reflecting the sector's turbulence. Several U.S. real estate stocks, including CBRE Group Inc. (NYSE:CBRE), Alexandria Real Estate Equities, Inc. (NYSE:ARE), Camden Property Trust (NYSE:CPT), SBA Communications Corp. (NASDAQ:SBAC), Boston Properties Inc. (NYSE:BXP), Vornado Realty Trust (NYSE:VNO), and Kilroy Realty Corp. (NYSE:KRC), have seen significant declines in their values.

Portfolio Pulse from Piero Cingari

October 02, 2023 | 3:51 pm

Mizuho analyst Haendel St. Juste maintains a Buy rating on Camden Prop Trust (NYSE:CPT) but lowers the price target from $120 to $101.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:09 pm

Barclays analyst Anthony Powell maintains an Overweight rating on Camden Prop Trust (NYSE:CPT) and raises the price target from $137 to $138.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 4:54 pm

Analysts have provided various ratings for Camden Prop Trust (NYSE:CPT) within the last quarter, with 1 bullish, 1 somewhat bullish, 3 indifferent, and 1 somewhat bearish. The average 12-month price target for CPT is $124.67, an increase of 1.36% from the previous average price target of $123.00.

Portfolio Pulse from Benzinga Insights

September 12, 2023 | 4:00 pm

Wells Fargo analyst James Feldman has maintained an Underweight rating on Camden Prop Trust (NYSE:CPT) and raised the price target from $102 to $107.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 12:45 pm

Citigroup analyst Nick Joseph has maintained a Neutral rating on Camden Prop Trust (NYSE:CPT) and lowered the price target from $130 to $118.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 3:02 pm

JP Morgan analyst Anthony Paolone maintains a Neutral rating on Camden Prop Trust (NYSE:CPT) and raises the price target from $131 to $133.

Portfolio Pulse from richadhand@benzinga.com

August 21, 2023 | 2:33 pm

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.

Portfolio Pulse from Nabaparna Bhattacharya

August 08, 2023 | 7:26 pm

Camden Prop Trust (NYSE:CPT) has received various analyst ratings over the last quarter, with 3 bullish, 2 somewhat bullish, and 2 indifferent. The average 12-month price target for the company is $127.86, a decrease of 3.14% from the previous average of $132.00. Analysts determine these ratings based on the company's predicted future earnings and the predictability of its revenue streams.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 7:00 pm

Truist Securities analyst Michael Lewis maintains a 'Buy' rating on Camden Prop Trust (NYSE:CPT) and raises the price target from $127 to $134.

Portfolio Pulse from richadhand@benzinga.com

August 08, 2023 | 4:08 pm

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