Killam Apartment REIT (TSE:KMP.UN) Upgraded to Strong-Buy by Raymond James

Killam Apartment REIT (TSE:KMP.UN) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report issued on Friday, BayStreet.CA reports. The firm presently has a C$24.00 price objective on the stock, up from their prior price objective of C$22.50. Raymond James’ price target indicates a potential upside of 16.73% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. TD Securities upped their price target on Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research report on Wednesday. Ventum Financial increased their price objective on Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. Finally, Royal Bank of Canada increased their price objective on Killam Apartment REIT from C$22.00 to C$23.00 in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Killam Apartment REIT has a consensus rating of “Moderate Buy” and a consensus price target of C$22.23.

Killam Apartment REIT Stock Performance

Shares of TSE KMP.UN traded up C$0.04 during trading on Friday, reaching C$20.56. 356,538 shares of the stock traded hands, compared to its average volume of 245,192. Killam Apartment REIT has a 52-week low of C$15.36 and a 52-week high of C$20.82. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.11 and a quick ratio of 0.03. The company has a 50-day moving average of C$18.62 and a 200-day moving average of C$18.16. The stock has a market capitalization of C$2.45 billion, a P/E ratio of 7.88 and a beta of 1.09.

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.