Killam Apartment REIT Announces Monthly Dividend of $0.06 (TSE:KMP.UN)

Killam Apartment REIT (TSE:KMP.UN) declared a monthly dividend on Thursday, October 31st, TickerTech reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.0583 per share on Friday, November 15th. This represents a $0.70 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Thursday, October 31st.

Killam Apartment REIT Trading Down 0.3 %

Killam Apartment REIT stock opened at C$19.25 on Tuesday. Killam Apartment REIT has a one year low of C$15.36 and a one year high of C$21.72. The business’s fifty day moving average is C$20.24 and its 200 day moving average is C$18.55. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The stock has a market capitalization of C$2.29 billion, a PE ratio of 7.42 and a beta of 1.10.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. TD Securities lifted their price target on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Royal Bank of Canada lifted their target price on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a research report on Friday, August 9th. National Bankshares boosted their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. Raymond James upgraded Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from C$22.50 to C$24.00 in a research note on Friday, September 6th. Finally, Ventum Financial upped their price objective on Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$22.45.

About Killam Apartment REIT

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating, managing and developing a $2.8 billion portfolio of apartments and manufactured home communities. Killam's strategy to enhance value and profitability focuses on three priorities: 1) increasing earnings from existing operations, 2) expanding the portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.