Camden Property Trust (CPT) PT Raised to $123 at Truist Securities

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

The analyst commented: "Lowering FFO Estimates, But Raising PT to $123 from $118; What’s Incremental to Our View: We are lowering our 2026 NFFO estimate by -1.5% and our 2027 estimate by -3.8%, primarily due to more conservative projected same-store revenue growth and higher interest rates. Earnings estimates (ours and consensus) have been consistently coming down across apartment REITs for quite some time, but U.S. job growth showed some improvement the last couple of months, the pace of new supply is easing, and we think our model might now lean conservative, assuming macro conditions do not worsen. Our $123 PT (was $118) implies less than one turn of FFO multiple expansion and a 10.3% potential return."

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