Camden Property Trust (CPT) Monthly Report
Publication Date: September 22, 2024
Company Overview
Camden Property Trust (CPT), headquartered in Houston, Texas, stands as a prominent real estate investment trust (REIT) on the S&P 500, with a specialization in the ownership, management, development, and acquisition of multifamily apartment communities across the United States. Currently managing 172 properties encompassing 58,250 apartment homes, Camden is on track to grow its portfolio to nearly 60,000 units with the completion of five additional developments. The company is celebrated for its workplace culture, having secured a spot on FORTUNE magazine’s list of the 100 Best Companies to Work For for 17 consecutive years, and ranking #24 in the most recent evaluation.
Financial Performance and Outlook
With a total revenue of approximately $1.56 billion, Camden Property Trust showcases a strong financial foundation, bolstering investor confidence in the residential REIT sector. The company currently trades at $125.21, with analysts setting a target high price of $147.00, suggesting considerable room for appreciation. The stock has a mean target price of $126.05, indicating expectations of moderate growth in the near term. A short interest of 1,935,482 shares reflects a low bearish sentiment, amounting to approximately 2.57% of the float. These indicators suggest that investor optimism remains robust, supported by a recommendation score of 2.3 from 19 analysts, signaling a consensus towards a buy strategy.
Technical Analysis
The current market price of $125.21 is near its fifty-two week high of $127.38, indicating a bullish trend. The fifty-day moving average stands at $119.02, suggesting recent upward momentum. Furthermore, the significant distance from the fifty-two week low of $82.81 highlights the stock’s resilience and potential for ongoing growth. Investors are encouraged to monitor additional financial metrics to comprehensively assess Camden’s operational efficiency and profitability, but the prevailing data underscores a positive outlook for CPT in the dynamic real estate landscape.
| Metric | Value |
|---|---|
| Market Cap | $13.4b |
| Total Debt | $3.6b |
| Total Cash | $93.9m |
| Shares Outstanding | 106.6m |
| Float Shares | 104.9m |
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