Killam Apartment REIT (TSE:KMP.UN) Given New C$23.50 Price Target at Royal Bank of Canada

Killam Apartment REIT (TSE:KMP.UN) had its price objective cut by Royal Bank of Canada from C$24.50 to C$23.50 in a research note issued to investors on Friday morning,BayStreet.CA reports.

Several other research firms have also commented on KMP.UN. Raymond James raised Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from C$22.50 to C$24.00 in a research report on Friday, September 6th. National Bankshares boosted their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Ventum Financial boosted their price target on Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. Finally, TD Securities boosted their price target on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$22.50.

Killam Apartment REIT Stock Down 0.9 %

Shares of TSE:KMP.UN opened at C$18.23 on Friday. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10. Killam Apartment REIT has a 1 year low of C$16.62 and a 1 year high of C$21.72. The stock has a market capitalization of C$2.17 billion, a P/E ratio of 7.01 and a beta of 1.10. The stock has a 50-day simple moving average of C$20.07 and a 200-day simple moving average of C$18.64.

Killam Apartment REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be given a $0.0583 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is 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.