Truist lowered the firm’s price target on Camden Property to $121 from $122 and keeps a Buy rating on the shares as part of a broader research note on REITs. The firm is relatively bullish on the sector following a challenging 2023 that was mired by volatile inflationary environment and believes that REITs should benefit from a favorable backdrop of improved cost of capital environment, liquidity and attractive valuation levels, the analyst tells investors in a research note. Truist adds however that the REIT should achieve three- and five-year growth rates beyond 2024 that are as high as any in the sector, as supply pressures ease while above-average population and job growth remain.
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