Raymond James Cuts Killam Apartment REIT (TSE:KMP.UN) Price Target to C$22.25

Killam Apartment REIT (TSE:KMP.UN) had its target price lowered by Raymond James from C$23.50 to C$22.25 in a research note issued to investors on Monday morning,BayStreet.CA reports.

KMP.UN has been the topic of a number of other reports. National Bankshares boosted their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Royal Bank of Canada reduced their price objective on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$22.38.

Killam Apartment REIT Stock Performance

TSE:KMP.UN opened at C$16.90 on Monday. The stock’s 50-day moving average is C$17.69 and its 200-day moving average is C$18.74. Killam Apartment REIT has a 1-year low of C$16.59 and a 1-year high of C$21.72. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The stock has a market cap of C$2.01 billion, a P/E ratio of 6.50 and a beta of 1.10.

Killam Apartment REIT Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.06 per share. This is an increase from Killam Apartment REIT’s previous monthly dividend of $0.06. This represents a $0.72 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Friday, January 31st. Killam Apartment REIT’s dividend payout ratio (DPR) is presently 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.