Killam Apartment REIT (TSE:KMP.UN) Receives C$22.50 Average PT from Brokerages

Shares of Killam Apartment REIT (TSE:KMP.UN) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$22.55.

Several research firms recently issued reports on KMP.UN. National Bankshares lifted their price objective on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. TD Securities upped their price target on 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 cut their price objective on Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th. Finally, Raymond James raised Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from C$22.50 to C$24.00 in a research report on Friday, September 6th.

Killam Apartment REIT Price Performance

KMP.UN opened at C$17.04 on Tuesday. The stock has a fifty day moving average price of C$18.52 and a 200 day moving average price of C$18.78. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. Killam Apartment REIT has a 1 year low of C$16.62 and a 1 year high of C$21.72. The stock has a market cap of C$2.03 billion, a price-to-earnings ratio of 6.55 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a $0.0583 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Thursday, October 31st. Killam Apartment REIT’s payout ratio is presently 26.92%.

Killam Apartment REIT Company Profile

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.