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

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

Other equities research analysts have also issued research reports about the company. Ventum Financial lifted their price target on Killam Apartment REIT from C$22.50 to C$23.00 in a research note on Friday, August 9th. Royal Bank of Canada raised their price objective on Killam Apartment REIT from C$22.00 to C$23.00 in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Killam Apartment REIT presently has a consensus rating of Moderate Buy and an average target price of C$22.23.

Killam Apartment REIT Stock Performance

TSE KMP.UN opened at C$20.57 on Wednesday. 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 fifty day moving average of C$18.69 and a 200-day moving average of C$18.17. The company has a market capitalization of C$2.45 billion, a P/E ratio of 7.91 and a beta of 1.09. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.11.

Killam Apartment REIT Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were paid a $0.0583 dividend. The ex-dividend date 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.