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

Shares of Killam Apartment REIT (TSE:KMP.UN) have been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$22.55.

KMP.UN has been the topic of a number of analyst reports. National Bankshares upped their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Raymond James upgraded shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from C$22.50 to C$24.00 in a research report on Friday, September 6th. Royal Bank of Canada reduced 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, TD Securities boosted their target price on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th.

Killam Apartment REIT Trading Down 0.8 %

KMP.UN stock opened at C$17.04 on Tuesday. Killam Apartment REIT has a 1-year low of C$16.62 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 business’s 50 day moving average is C$18.52 and its 200-day moving average is C$18.78. The firm has a market cap of C$2.03 billion, a P/E ratio of 6.55 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were paid a dividend of $0.0583 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Thursday, October 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.