Why Camden Property Trust Stock Rallied 10% in January
Shares of Camden Property Trust (NYSE: CPT) rose 10.1% in January, according to data provided by S&P Global Market Intelligence. While the stock market rally last month helped drive some of that surge, analysts also contributed to the apartment REIT's strong showing to start the year.
A couple of analysts updated their view on Camden Property last month. While Deutsche Bank analyst Derek Johnston reduced the bank's price target on the REIT's stock from $153 to $140 per share, that still implies more than 10% upside from the recent price. Further, they kept their buy rating.
The analyst reduced their target because of their cautious view on REITs this year due to more tepid leasing conditions. That could weigh on earnings growth for Camden this year.
Source Fool.com
