Truist lowered the firm’s price target on Camden Property to $113 from $121 but keeps a Buy rating on the shares. The firm is adjusting its model to assume lower same-store growth and higher-for-longer interest rates across the apartment REIT space, even though Camden Property remains one of its “highest conviction” Buys given its “favorable longer-term outlook, excellent balance sheet, and very attractive valuation”, the analyst tells investors in a research note.
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