Camden (CPT Quick QuoteCPT - Free Report) shares soared 5.2% in the last trading session to close at $158.33. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.5% loss over the past four weeks.

Camden witnessed an extended rally, driven by optimism in the Residential REIT industry.

This real estate investment trust is expected to post quarterly funds from operations (FFO) of $1.49 per share in its upcoming report, which represents a year-over-year change of +23.1%. Revenues are expected to be $305.75 million, up 16.9% from the year-ago quarter.

FFO and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in FFO estimate revisions are strongly correlated with near-term stock price movements.

For Camden, the consensus FFO per share estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in FFO estimate revision usually translates into price appreciation. So, make sure to keep an eye on CPT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>