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

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

Killam Apartment REIT Stock Performance

TSE:KMP.UN opened at C$19.04 on Tuesday. The firm’s fifty day moving average price is C$17.57 and its 200 day moving average price is C$18.09. Killam Apartment REIT has a 1-year low of C$15.36 and a 1-year high of C$20.13. The company has a debt-to-equity ratio of 85.23, a current ratio of 0.11 and a quick ratio of 0.03. The firm has a market cap of C$2.26 billion, a price-to-earnings ratio of 7.30 and a beta of 1.06.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TD Securities lowered their price objective on shares of Killam Apartment REIT from C$23.00 to C$22.00 in a research report on Wednesday, April 24th. Royal Bank of Canada boosted their target price on shares of Killam Apartment REIT from C$23.50 to C$24.00 in a research report on Thursday, May 9th. Raymond James decreased their target price on shares of Killam Apartment REIT from C$22.75 to C$21.75 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Finally, National Bankshares decreased their target price on shares of Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$21.93.

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.