Shares of Camden Property Trust (NYSE:CPT) traded today at $140.18, eclipsing its 52-week high. This new high was reached on below average trading volume as 156,000 shares traded hands, while the average 30-day volume is approximately 794,000 shares.
Camden Property Trust is a real estate investment trust primarily engaged in the acquisition, management, and development of multifamily apartment communities across the United States. The company’s real estate portfolio consists primarily of apartment properties throughout the Sun Belt. Houston, Dallas, Las Vegas, and Atlanta represent some of Camden’s largest housing markets in terms of apartment units. The firm derives nearly all of its revenue from the leasing of properties to tenants through short-term agreements. Camden Property derives the majority of its revenue from the Washington D.C., Los Angeles, Houston, Atlanta, and southeastern Florida areas.
Potential upside of 6.5% exists for Camden Property Trust, based on a current level of $139.21 and analysts’ average consensus price target of $148.30.
Over the past year, Camden Property Trust has traded in a range of $85.74 to $140.18 and is now at $139.21, 62% above that low.
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