10 Best Residential Real Estate Stocks to Buy

3. Camden Property Trust (NYSE:CPT)

Number of Hedge Fund Holders: 36

Value of Hedge Fund Holdings: $771,841,000  

Camden Property Trust (NYSE:CPT) was established in 1981 by Richard J. Campo and D. Keith Oden. Headquartered in Houston, Texas, the company ranks as the 14th largest apartment owner in the United States. For 17 consecutive years, it has been recognized on Fortune magazine’s annual list of the 100 best companies to work for.

As of December 31, 2023, Camden Property Trust (NYSE:CPT) owned interests in 176 apartment communities, comprising a total of 59,800 apartment homes across the country.

In the first quarter of 2024, Camden Property Trust (NYSE:CPT) generated $386.19 million in revenue, with a net income of $83.89 million. The net income reflected a year-over-year increase of over 100%. Meanwhile, the net profit margin stood at 21.72%, and the diluted earnings per share (EPS) was $0.77. The diluted EPS recorded a YoY increase of 97%.

According to analysis from 13 Wall Street experts over the past three months, Camden Property Trust (NYSE:CPT) has an average 12-month price target of $108.9, with estimates ranging from a high of $118 to a low of $100. This average target suggests a 2.5% upside potential from the most recent price of $106.2

Camden Property Trust (NYSE:CPT) ranks third on our list of the best residential real estate stocks to buy in 2024.