Brokerages Set Killam Apartment REIT (TSE:KMP.UN) PT at C$22.55

Shares of Killam Apartment REIT (TSE:KMP.UN) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year 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 a number of recent analyst reports. Royal Bank of Canada lowered their price target on Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th. National Bankshares upped their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. Finally, Raymond James reduced their price target on shares of Killam Apartment REIT from C$23.50 to C$22.25 in a research report on Monday.

Killam Apartment REIT Price Performance

Killam Apartment REIT stock opened at C$16.72 on Friday. The business’s 50-day simple moving average is C$17.76 and its 200 day simple moving average is C$18.76. 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 cap of C$1.99 billion, a price-to-earnings ratio of 6.43 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.

Killam Apartment REIT Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were paid a dividend of $0.0583 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, October 31st. Killam Apartment REIT’s dividend payout ratio is presently 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.