Killam Apartment REIT (TSE:KMP.UN) Price Target Raised to C$23.00 at Royal Bank of Canada

Killam Apartment REIT (TSE:KMP.UN) had its target price increased by Royal Bank of Canada from C$22.00 to C$23.00 in a research note published on Friday morning, BayStreet.CA reports.

Other research analysts also recently issued reports about the stock. TD Securities lowered their price objective on shares of Killam Apartment REIT from C$23.00 to C$22.00 in a research report on Wednesday, April 24th. Ventum Financial boosted their price target on Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday. National Bankshares reduced their price objective on Killam Apartment REIT from C$22.75 to C$21.50 and set an outperform rating on the stock in a research note on Wednesday, April 24th. Finally, Raymond James decreased their target price on Killam Apartment REIT from C$22.75 to C$21.75 and set an outperform rating on the stock in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of C$21.93.

Killam Apartment REIT Price Performance

Shares of TSE:KMP.UN opened at C$18.77 on Friday. The firm has a 50 day moving average of C$17.80 and a 200-day moving average of C$18.10. Killam Apartment REIT has a 12 month low of C$15.36 and a 12 month high of C$20.13. The company has a current ratio of 0.11, a quick ratio of 0.03 and a debt-to-equity ratio of 85.23. The stock has a market capitalization of C$2.23 billion, a PE ratio of 7.20 and a beta of 1.06.

Killam Apartment REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 15th will be issued a $0.0583 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 3.73%. Killam Apartment REIT’s dividend payout ratio (DPR) is presently 26.82%.

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.