Killam Apartment REIT (TSE:KMP.UN) Given Average Recommendation of “Moderate Buy” by Analysts

Killam Apartment REIT (TSE:KMP.UN) has been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$22.38.

KMP.UN has been the subject of several analyst reports. Raymond James reduced their price objective on shares of Killam Apartment REIT from C$23.50 to C$22.25 in a research note on Monday, January 13th. National Bankshares raised their target price on Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Finally, Royal Bank of Canada decreased their price target on Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th.

Killam Apartment REIT Price Performance

TSE KMP.UN opened at C$16.77 on Friday. 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 stock has a market capitalization of C$2.00 billion, a PE ratio of 6.45 and a beta of 1.10. Killam Apartment REIT has a 12-month low of C$16.59 and a 12-month high of C$21.72. The company has a 50 day moving average price of C$17.64 and a two-hundred day moving average price of C$18.74.

Killam Apartment REIT Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be given a $0.06 dividend. This is an increase from Killam Apartment REIT’s previous monthly dividend of $0.06. This represents a $0.72 annualized dividend and a yield of 4.29%. The ex-dividend date is Friday, January 31st. Killam Apartment REIT’s payout ratio is currently 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.