J.P. Morgan Reiterates Neutral Rating, $75 PT on Camden Property Trust

In a report published Friday, J.P. Morgan & Co. reiterated its Neutral rating and $75.00 price target on Camden Property Trust CPT. J.P. Morgan noted, “We rate CPT Neutral due to a number of competing factors that we think ultimately offset one another. On the positive side, we think the management team has a track record of outperforming in its markets and keeping a watchful eye on risk. Additionally, we note valuation that screens more reasonably relative to other larger-cap multi-family peers. However, on the negative side, we see the supply-prone nature of its Sunbelt markets resulting in less long-term rental growth.” Camden Property Trust closed on Thursday at $68.11.