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

Killam Apartment REIT (TSE:KMP.UN) announced a monthly dividend on Wednesday, July 31st, TickerTech reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.0583 per share on Thursday, August 15th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Wednesday, July 31st.

Killam Apartment REIT Price Performance

Shares of TSE:KMP.UN opened at C$19.04 on Monday. The company has a 50-day simple moving average of C$17.54 and a 200-day simple moving average of C$18.09. Killam Apartment REIT has a one year low of C$15.36 and a one year high of C$20.13. The company has a debt-to-equity ratio of 85.23, a quick ratio of 0.03 and a current ratio of 0.11. The stock has a market capitalization of C$2.26 billion, a price-to-earnings ratio of 7.30 and a beta of 1.06.

Analysts Set New Price Targets

KMP.UN has been the subject of a number of research reports. Raymond James reduced their target price on shares of Killam Apartment REIT from C$22.75 to C$21.75 and set an “outperform” rating for the company in a report on Wednesday, April 24th. National Bankshares reduced their target price on shares of Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Royal Bank of Canada increased their price target on shares of Killam Apartment REIT from C$23.50 to C$24.00 in a report on Thursday, May 9th. Finally, TD Securities cut their price target on shares of Killam Apartment REIT from C$23.00 to C$22.00 in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$21.93.

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.