Killam Apartment REIT (TSE:KMP.UN – Free Report) had its target price trimmed by Royal Bank of Canada from C$24.50 to C$23.50 in a research report sent to investors on Friday morning,BayStreet.CA reports.
Other equities research analysts also recently issued reports about the stock. National Bankshares upped their price objective on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Raymond James raised shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from C$22.50 to C$24.00 in a report on Friday, September 6th. Ventum Financial upped their price target on Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. Finally, 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, September 4th. 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. Based on data from MarketBeat, Killam Apartment REIT presently has a consensus rating of “Moderate Buy” and an average target price of C$22.50.
Check Out Our Latest Report on KMP.UN
Killam Apartment REIT Stock Performance
Killam Apartment REIT Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be issued a $0.0583 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.70 annualized dividend and a yield of 3.80%. Killam Apartment REIT’s payout ratio is 26.92%.
About Killam Apartment REIT
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.
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