Killam Apartment REIT Announces Monthly Dividend of $0.06 (TSE:KMP.UN)

Killam Apartment REIT (TSE:KMP.UN) declared a monthly dividend on Friday, June 28th, TickerTech reports. Shareholders of record on Monday, July 15th will be paid a dividend of 0.0583 per share on Monday, July 15th. This represents a $0.70 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Friday, June 28th.

Killam Apartment REIT Stock Performance

Shares of TSE KMP.UN traded up C$0.27 during midday trading on Thursday, reaching C$16.95. 168,225 shares of the company traded hands, compared to its average volume of 258,853. The company has a market cap of C$2.01 billion, a price-to-earnings ratio of 6.49 and a beta of 1.06. The stock has a 50-day moving average price of C$17.28 and a 200 day moving average price of C$18.11. Killam Apartment REIT has a 52 week low of C$15.36 and a 52 week high of C$20.13. The company has a debt-to-equity ratio of 85.23, a current ratio of 0.11 and a quick ratio of 0.03.

Wall Street Analysts Forecast Growth

KMP.UN has been the subject of a number of research analyst reports. TD Securities reduced their price target on shares of Killam Apartment REIT from C$23.00 to C$22.00 in a research note on Wednesday, April 24th. National Bankshares cut their target price on Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Scotiabank lowered their price target on Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating on the stock in a research report on Monday, March 25th. Royal Bank of Canada boosted their price objective on Killam Apartment REIT from C$23.50 to C$24.00 in a research note on Thursday, May 9th. Finally, Raymond James decreased their target price on Killam Apartment REIT from C$22.75 to C$21.75 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$21.93.

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.