Camden Property Trust (CPT) PT Lowered to $116 at Truist Securities

Truist Securities analyst Michael Lewis lowered the price target on Camden Property Trust (NYSE: CPT) to $116.00 (from $123.00) while maintaining a Buy rating.

The analyst commented: "As we have recently done with other apartment REITs, we are reducing our 2026 same-store revenue growth forecast and therefore our FFO estimate for next year. We still think CPT is significantly undervalued at a 6.5% implied cap rate with market cap rates closer to 5% and fundamentals likely to gain momentum late next year. Our $116 12-month price target (was $123) implies earnings multiple expansion, but still conservatively well below historical levels/averages and still a significant discount to our estimate of NAV."

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