Analysts Set Killam Apartment REIT (TSE:KMP.UN) PT at C$22.55

Killam Apartment REIT (TSE:KMP.UN) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$22.38.

A number of equities research analysts recently issued reports on the company. Raymond James lowered their price objective on Killam Apartment REIT from C$23.50 to C$22.25 in a research report on Monday. National Bankshares raised their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Finally, Royal Bank of Canada cut their price objective on Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th.

Killam Apartment REIT Stock Performance

TSE:KMP.UN opened at C$16.90 on Friday. Killam Apartment REIT has a 52-week low of C$16.59 and a 52-week high of C$21.72. The business’s fifty day moving average is C$17.69 and its 200 day moving average is C$18.74. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10. The firm has a market cap of C$2.01 billion, a price-to-earnings ratio of 6.50 and a beta of 1.10.

Killam Apartment REIT Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be paid a $0.06 dividend. 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 4.26%. The ex-dividend date is Friday, January 31st. 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.