Camden Property Trust (CPT) PT Raised to $115 at Baird

Baird analyst Amanda Sweitzer raised the price target on Camden Property Trust (NYSE: CPT) to $115.00 (from $111.00) while maintaining a Outperform rating.

The analyst commented: "We continue to like CPT due to a favorable valuation, strong balance sheet, and exposure to high demand markets. Elevated supply continues to weigh on growth this year and likely into 2025, but the company should emerge with good pricing power once supply pressure abates with rent to income now below 19%. trimmed expectations for market rent growth from 70 bps to 25 bps, but this was offset by the assumption of lower bad debt and a slight uptick in occupancy. CPT noted its top two markets DC and Houston, which account for ~25% of NOI, are performing well. The balance sheet remains in a great spot to be opportunistic. We expect the company to be opportunistic on the buyback and start developments in the second half of the year should demand remain resilient."

You May Also Be Interested In

• Brainsway (BWAY) PT Raised to $20 at BTIG
• On Holding AG (ONON) Removed from Raymond James Analyst Current Favorites List
• The Honest Co. (HNST) PT Raised to $5.70 at Morgan Stanley, 'Diaper Pressure Continues'