J.P. Morgan Neutral On Camden Property Trust After Earnings (CPT)

J.P. Morgan Chase & Co. has a Neutral rating and $51 price target on shares of Camden Property Trust CPT after it reported earnings. In a note to clients, J.P. Morgan writes, "CPT reported 1Q FFO that was solidly ahead of our estimate and Bloomberg consensus. The beat could almost entirely be chalked up to better operating performance, and as a result, management upped its guidance. This should be good news for the stock and it also continues the trend of strong apartment REIT fundamentals being reported as we enter into the middle of reporting season. Below are some further details." Shares of CPT gained 85 cents yesterday to close at $62.31, a gain of 1.4%.