2024-05-08 07:00:00 ET
Summary
- Camden Property Trust is a decent buy for investors looking to add diversification into their REIT portfolios.
- Despite slower growth in the sector, Camden Property Trust has maintained strong fundamentals and even managed to grow its FFO and Revenue year-over-year.
- The REIT offers a growing dividend that is well-covered by AFFO and has a conservative payout ratio below the REIT average.
- CPT's A-rated balance sheet remains strong, with a net debt-to-EBITDA of just 3.6x and manageable debt maturing in '24 and none in 2025.
Introduction
Since the start of the REIT bear market roughly 2 years ago, I've been looking to add some apartment REITs to my portfolio. Camden Property Trust ( CPT ) is one that still appears to be a decent buy at its current price. Although I've preferred to build out my current REIT positions, apartment REITs are still attractive, especially those focused on the growing Sun Belt market....
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Camden Property Trust: Higher Home Costs And Strong Fundamentals Make Long-Term Buy