Stifel upgrades Camden Property on Sunbelt recovery, valuation
Camden Property Trust (CPT) gained after Stifel upgraded it to 'Buy' from 'Hold,' citing Sunbelt demand recovery and attractive valuation. The $122.75 price target implies 12.7% upside. Multi-family REITs now trade at 15.8x FFO, below the 10-year average of 18.5x. Camden expects growth ahead despite flat Q2 results, with retail sentiment currently neutral.