Killam Apartment REIT (TSE:KMP.UN) Receives C$21.93 Average Price Target from Brokerages

Killam Apartment REIT (TSE:KMP.UN) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$21.93.

Several equities analysts recently commented on the stock. Scotiabank dropped their price objective on shares of Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating for the company in a research note on Monday, March 25th. TD Securities decreased their price target on shares of Killam Apartment REIT from C$23.00 to C$22.00 in a research report on Wednesday, April 24th. Royal Bank of Canada upped their price target on shares of Killam Apartment REIT from C$23.50 to C$24.00 in a research report on Thursday, May 9th. Raymond James decreased their price target on shares of Killam Apartment REIT from C$22.75 to C$21.75 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, National Bankshares decreased their price objective on shares of Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating for the company in a research report on Wednesday, April 24th.

Killam Apartment REIT Price Performance

Shares of TSE:KMP.UN opened at C$16.95 on Tuesday. The company has a market cap of C$2.01 billion, a price-to-earnings ratio of 6.49 and a beta of 1.06. The company has a debt-to-equity ratio of 85.23, a current ratio of 0.11 and a quick ratio of 0.03. The firm has a 50 day simple moving average of C$17.28 and a 200 day simple moving average of C$18.10. Killam Apartment REIT has a one year low of C$15.36 and a one year high of C$20.13.

Killam Apartment REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 15th will be paid a $0.0583 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, June 28th. Killam Apartment REIT’s dividend payout ratio (DPR) is 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.