Analysts Set Killam Apartment REIT (TSE:KMP.UN) Target Price at C$22.50

Shares of Killam Apartment REIT (TSE:KMP.UN) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$22.50.

KMP.UN has been the subject of several research reports. Ventum Financial upped their target price on Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 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 stock from C$22.50 to C$24.00 in a research note on Friday, September 6th. TD Securities raised their target price on shares of 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. Royal Bank of Canada lowered their price target on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. Finally, National Bankshares boosted their price objective on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th.

Killam Apartment REIT Stock Performance

The company’s 50-day moving average is C$19.42 and its two-hundred day moving average is C$18.74. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The stock has a market capitalization of C$2.19 billion, a price-to-earnings ratio of 7.08 and a beta of 1.10. Killam Apartment REIT has a one year low of C$16.62 and a one year high of C$21.72.

Killam Apartment REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were paid a $0.0583 dividend. This represents a $0.70 annualized dividend and a dividend yield of ∞. The ex-dividend date of this dividend was Thursday, October 31st. Killam Apartment REIT’s payout ratio is 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.