Killam Apartment REIT (TSE:KMP.UN) Sets New 1-Year Low – Here’s Why

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

Analyst Upgrades and Downgrades

KMP.UN has been the subject of several recent research reports. Raymond James decreased their price target on Killam Apartment REIT from C$23.50 to C$22.25 in a research note on Monday, January 13th. National Bankshares increased their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada dropped their price target on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$22.58.

Killam Apartment REIT Stock Performance

The stock has a market capitalization of C$1.98 billion, a price-to-earnings ratio of 6.39 and a beta of 1.10. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05. The company has a 50 day simple moving average of C$17.47 and a 200-day simple moving average of C$18.73.

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 given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Killam Apartment REIT’s previous monthly dividend of $0.06. Killam Apartment REIT’s payout ratio 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.