Camden Property price target raised to $98 from $95 at Morgan Stanley

Morgan Stanley analyst Adam Kramer raised the firm’s price target on Camden Property to $98 from $95 and keeps an Equal Weight rating on the shares. Apartment real estate investment trusts continue to trade at larger than historical discounts to the broader REIT group, which is explainable given record levels of new supply drove negative new lease growth in Q4 and January, the analyst tells investors in a research note. The firm says apartment REITs “trade cheap, for a reason.”