Killam Apartment REIT (KMP.UN) to Issue Monthly Dividend of $0.06 on October 15th

Killam Apartment REIT (TSE:KMP.UN) announced a monthly dividend on Friday, September 27th, TickerTech reports. Investors of record on Tuesday, October 15th will be paid a dividend of 0.0583 per share on Tuesday, October 15th. This represents a $0.70 annualized dividend and a yield of 3.30%. The ex-dividend date is Friday, September 27th.

Killam Apartment REIT Stock Performance

TSE:KMP.UN traded up C$0.09 during mid-day trading on Wednesday, hitting C$21.22. The stock had a trading volume of 12,424 shares, compared to its average volume of 250,006. The stock has a market capitalization of C$2.53 billion, a price-to-earnings ratio of 8.13 and a beta of 1.09. The company has a 50 day simple moving average of C$19.58 and a 200-day simple moving average of C$18.30. Killam Apartment REIT has a 52 week low of C$15.36 and a 52 week high of C$21.72. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a research note on Friday, August 9th. Ventum Financial upped their price target on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research note on Friday, August 9th. Raymond James upgraded shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from C$22.50 to C$24.00 in a report on Friday, September 6th. Finally, TD Securities boosted their target price on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$22.23.

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.