Houston, Texas-based Camden Property Trust (CPT) owns, manages, develops, repositions, redevelops, acquires, and constructs multifamily apartment communities. Valued at $12.7 billion by market cap, it owns and operates 172 properties containing 58,250 apartment homes across the U.S.
Shares of this leading apartment REIT have underperformed the broader market over the past year. CPT has gained 12.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 28.3%. However, things are looking up for the stock in 2024. CPT stock is up 20.3%, surpassing SPX’s 17.6% rise on a YTD basis.
