Barclays analyst Anthony Powell raised the firm’s price target on Camden Property to $138 from $137 and keeps an Overweight rating on the shares. Apartment real estate investment trusts reported softer, but still-positive Q3 quarter-to-date blended spreads, in-line with seasonal trends, the analyst tells investors in a research note. The firm updated estimates to reflect solid tenant demand and improving occupancy. Sunbelt REITs had notably weaker new lease spreads in August, and should continue to be monitored for the effects of new supply, says Barclays.
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Read More on CPT:
- Camden Property price target raised to $134 from $127 at Truist
- Camden Property price target raised to $126 from $124 at Piper Sandler
- Camden Property sees Q3 core FFO $1.71-$1.75, consensus $1.74
- Camden Property sees FY23 core FFO $6.83-$6.93, consensus $6.86
- Camden Property reports Q2 core FFO $1.70 consensus $1.69