TD Securities Raises Killam Apartment REIT (TSE:KMP.UN) Price Target to C$23.00

Killam Apartment REIT (TSE:KMP.UN) had its price objective hoisted by TD Securities from C$22.00 to C$23.00 in a research report released on Wednesday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on KMP.UN. Royal Bank of Canada boosted their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a research report on Friday, August 9th. Ventum Financial boosted their price target on shares of 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Killam Apartment REIT presently has a consensus rating of Moderate Buy and an average target price of C$22.23.

Killam Apartment REIT Price Performance

KMP.UN opened at C$20.57 on Wednesday. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.11. The stock has a market capitalization of C$2.45 billion, a PE ratio of 7.91 and a beta of 1.09. The stock’s 50 day moving average price is C$18.69 and its 200-day moving average price is C$18.17. Killam Apartment REIT has a 52-week low of C$15.36 and a 52-week high of C$20.82.

Killam Apartment REIT Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 15th were given a dividend of $0.0583 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 3.40%. Killam Apartment REIT’s dividend payout ratio (DPR) is currently 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.