Killam Apartment REIT (TSE:KMP.UN) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of Killam Apartment REIT (TSE:KMP.UN) from an outperform rating to a strong-buy rating in a research report released on Friday, BayStreet.CA reports. They currently have C$24.00 target price on the stock, up from their previous target price of C$22.50.

KMP.UN has been the subject of a number of other reports. TD Securities lifted their target price on Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a buy rating in a research note on Wednesday. Ventum Financial upped their price objective on Killam Apartment REIT from C$22.50 to C$23.00 in a research note on Friday, August 9th. Finally, Royal Bank of Canada increased their target price on Killam Apartment REIT from C$22.00 to C$23.00 in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$22.23.

Killam Apartment REIT Trading Up 0.2 %

Killam Apartment REIT stock opened at C$20.57 on Friday. Killam Apartment REIT has a 1 year low of C$15.36 and a 1 year high of C$20.82. The firm’s 50-day moving average is C$18.69 and its 200-day moving average is C$18.17. 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 company has a market cap of C$2.45 billion, a P/E ratio of 7.91 and a beta of 1.09.

Killam Apartment REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 15th were given a $0.0583 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 3.40%. Killam Apartment REIT’s dividend payout ratio is presently 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.