Will This Price Target Increase Help Camden Property Trust (CPT) Stock Today?

Story updated at 10 a.m. to reflect market activity.

NEW YORK (TheStreet) -- UBS raised its price target for Camden Property Trust (CPT) to $70 from $66 Wednesday.

Camden gained 2.2% ti $71.19 in morning trading.

The firm reiterated its "neutral" rating for the stock. The increase was driven by Camden's increased supply growth in the Sunbelt according to UBS analysts.

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Separatley, TheStreet Ratings team rates CAMDEN PROPERTY TRUST as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CAMDEN PROPERTY TRUST (CPT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • Despite its growing revenue, the company underperformed as compared with the industry average of 8.3%. Since the same quarter one year prior, revenues slightly increased by 4.6%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Net operating cash flow has increased to $94.69 million or 27.48% when compared to the same quarter last year. In addition, CAMDEN PROPERTY TRUST has also vastly surpassed the industry average cash flow growth rate of -70.87%.
  • CAMDEN PROPERTY TRUST's earnings per share declined by 28.1% in the most recent quarter compared to the same quarter a year ago. The company has suffered a declining pattern of earnings per share over the past year. However, we anticipate this trend reversing over the coming year. During the past fiscal year, CAMDEN PROPERTY TRUST reported lower earnings of $1.69 versus $1.79 in the prior year. This year, the market expects an improvement in earnings ($1.77 versus $1.69).
  • The change in net income from the same quarter one year ago has exceeded that of the Real Estate Investment Trusts (REITs) industry average, but is less than that of the S&P 500. The net income has decreased by 8.6% when compared to the same quarter one year ago, dropping from $142.17 million to $130.00 million.
  • You can view the full analysis from the report here: CPT Ratings Report

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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