Camden Property price target raised to $122 from $114 at Truist

Truist raised the firm’s price target on Camden Property to $122 from $114 and keeps a Buy rating on the shares as part of a broader research note on Apartment REITs updating the firm’s models to reflect current interest rates, cap rates and rent spread trends. Job growth to start the year has been stronger than most management teams expected across most markets, though some near-term conservatism regarding apartment fundamentals may be warranted, the analyst tells investors in a research note. Truist adds that it sees Camden Property as the most attractive apartment REIT stock in its coverage universe, offering strong free cash flow, a liquid low-cap rate portfolio, a low-levered balance sheet, and access to capital to pursue potential acquisitions, developments and/or share repurchases.