Deutsche Bank analyst Omotayo Okusanya raised the firm’s price target on Camden Property to $115 from $90 and keeps a Hold rating on the shares. The firm increased its multi-year earnings outlook for the multifamily real estate investment trust sector citing the strong first half of 2024 results that were primarily driven by stronger than expected demand. Almost all the multifamily REITs raised fiscal 2024 guidance at least once as absorption surged off the back of an unaffordable housing market making it more economical to rent versus buy and a strong jobs market, the analyst tells investors in a research note.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CPT:
- Block, GE HealthCare initiated: Wall Street’s top analyst calls
- Camden Property price target raised to $116 from $115 at Evercore ISI
- Camden Property downgraded to Sector Perform from Outperform at RBC Capital
- Camden Property initiated with an Underperform at Zelman
- Camden Property initiated with a Neutral at Goldman Sachs