Killam Apartment REIT (TSE:KMP.UN) Receives C$21.93 Average PT from Brokerages

Shares of Killam Apartment REIT (TSE:KMP.UN) have received an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$21.93.

KMP.UN has been the topic of a number of research analyst reports. TD Securities cut their price target on Killam Apartment REIT from C$23.00 to C$22.00 in a report on Wednesday, April 24th. National Bankshares decreased their target price on shares of 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. Royal Bank of Canada boosted their target price on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a research report on Friday, August 9th. Ventum Financial boosted their target price on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. Finally, Raymond James decreased their target price on shares of Killam Apartment REIT from C$22.75 to C$21.75 and set an “outperform” rating for the company in a research report on Wednesday, April 24th.

Killam Apartment REIT Stock Performance

TSE:KMP.UN opened at C$19.00 on Wednesday. The stock has a market cap of C$2.26 billion, a P/E ratio of 7.31 and a beta of 1.09. The company has a current ratio of 0.11, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The stock’s 50-day moving average is C$18.00 and its 200-day moving average is C$18.10. Killam Apartment REIT has a 1-year low of C$15.36 and a 1-year high of C$20.13.

Killam Apartment REIT Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 15th were paid a dividend of $0.0583 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Wednesday, July 31st. Killam Apartment REIT’s payout ratio is currently 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.