UPDATE: J.P. Morgan Increases PT on Camden Property Trust
According to a research report this morning, J.P. Morgan increases its PT on Camden Property Trust (NYSE: CPT) from $63 to $68 as a result of increased estimates.
J.P. Morgan stated, “Following the 1Q earnings result, we are raising our 2012 and 2013 FFO/share estimates $0.06 and $0.07, respectively, to $3.53 and $3.78. Our $3.53 FFO/share estimate for 2012 is at the high end of company guidance ($3.35 to $3.55) and a penny above Bloomberg consensus. We note our estimate includes about $0.01/share of benefit over the remaining quarters of 2012 relating to the acquisition of twelve JV properties in 1Q'12.”
Camden Property Trust closed yesterday at $67.48 as J.P. Morgan maintains its Neutral rating.
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