REIT COMPANY FOR YOUR PORTFOLIO
-Camden Property Trust $CPT: Real Estate Investment Trust (REIT). Camden's activities are primarily focused on the ownership and development, acquisition and management, and redevelopment of its apartment communities. As of January of this year, the company manages 172 properties with a total of 58,634 housing units.
-Headquartered in Houston, $CPT but operates in fast-growing urban locations including Washington, D.C., Nashville, Denver and South Florida.
- Interest rates have put pressure on the real estate sector, but $CPT expects improvement this year.
- 4Q23 results: Total sales of $387.6 million. USD 6.6 million (3% year-over-year increase).
- Funds from Operations (FFO) amounted to USD 1.73, covering dividends.
- Dividend of $1.03 per common share, annual yield of $4.12 with a forward yield of 4.4%.
- The company's valuation has bottomed, with expectations of 19.5% growth and a Buy recommendation.
- Expected yield over 23% in the coming year.
From my perspective this is a very interesting REIT, what do you think?