Killam Apartment REIT (TSE:KMP.UN) Hits New 1-Year Low – Here’s What Happened

Killam Apartment REIT (TSE:KMP.UN) shares hit a new 52-week low on Wednesday . The stock traded as low as C$16.59 and last traded at C$16.59, with a volume of 55355 shares changing hands. The stock had previously closed at C$16.72.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada cut their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th. Raymond James lowered their price objective on Killam Apartment REIT from C$23.50 to C$22.25 in a research report on Monday, January 13th. Finally, National Bankshares boosted their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Two 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$22.38.

Killam Apartment REIT Price Performance

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 company has a market cap of C$1.97 billion, a price-to-earnings ratio of 6.37 and a beta of 1.10. The business has a 50-day moving average price of C$17.60 and a 200 day moving average price of C$18.75.

Killam Apartment REIT Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Killam Apartment REIT’s previous monthly dividend of $0.06. 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.