Killam Apartment REIT (TSE:KMP.UN) Given Average Rating of “Buy” by Brokerages

Shares of Killam Apartment REIT (TSE:KMP.UN) have received a consensus recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$22.58.

A number of analysts recently weighed in on the stock. Raymond James cut their target price on shares of Killam Apartment REIT from C$23.50 to C$22.25 in a research note on Monday, January 13th. Royal Bank of Canada dropped their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th.

Killam Apartment REIT Trading Down 0.5 %

Shares of KMP.UN stock opened at C$16.55 on Wednesday. Killam Apartment REIT has a fifty-two week low of C$15.83 and a fifty-two week high of C$21.72. The company has a 50 day moving average price of C$17.14 and a 200 day moving average price of C$18.65. The stock has a market capitalization of C$1.97 billion, a P/E ratio of 6.37 and a beta of 1.10. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10.

Killam Apartment REIT Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be given a $0.06 dividend. 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. This represents a $0.72 dividend on an annualized basis and a yield of 4.35%. 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.