Brokerages Set Killam Apartment REIT (TSE:KMP.UN) PT at C$22.50

Shares of Killam Apartment REIT (TSE:KMP.UN) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$22.55.

Several research analysts have issued reports on the stock. Raymond James upgraded shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from C$22.50 to C$24.00 in a research report on Friday, September 6th. Royal Bank of Canada cut their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. National Bankshares increased their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Finally, TD Securities boosted their price objective 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.

Killam Apartment REIT Stock Performance

Shares of TSE KMP.UN opened at C$17.17 on Tuesday. Killam Apartment REIT has a 1 year low of C$16.62 and a 1 year high of C$21.72. 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 stock has a fifty day moving average price of C$18.57 and a two-hundred day moving average price of C$18.78. The firm has a market cap of C$2.04 billion, a P/E ratio of 6.60 and a beta of 1.10.

Killam Apartment REIT Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were given a dividend of $0.0583 per share. This represents a $0.70 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, October 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.