Killam Apartment REIT (TSE:KMP.UN) Price Target Raised to C$24.00 at National Bankshares

Killam Apartment REIT (TSE:KMP.UN) had its price target boosted by equities researchers at National Bankshares from C$22.75 to C$24.00 in a note issued to investors on Wednesday, BayStreet.CA reports. National Bankshares’ price objective points to a potential upside of 21.58% from the stock’s previous close.

Several other analysts also recently issued reports on KMP.UN. Ventum Financial boosted their price target on Killam Apartment REIT from C$22.50 to C$23.00 in a research note on Friday, August 9th. Royal Bank of Canada boosted their target price on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a research report on Friday, August 9th. Raymond James upgraded shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from C$22.50 to C$24.00 in a research note on Friday, September 6th. Finally, TD Securities lifted their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research note 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$22.45.

Killam Apartment REIT Stock Performance

Shares of TSE:KMP.UN traded down C$0.04 during trading on Wednesday, reaching C$19.74. 58,736 shares of the stock were exchanged, compared to its average volume of 250,214. Killam Apartment REIT has a 12 month low of C$15.36 and a 12 month high of C$21.72. The stock has a 50-day moving average price of C$19.95 and a 200-day moving average price of C$18.41. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The firm has a market cap of C$2.35 billion, a PE ratio of 7.59 and a beta of 1.09.

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.