Killam Apartment REIT (TSE:KMP.UN) Given New C$21.50 Price Target at Raymond James

Killam Apartment REIT (TSE:KMP.UN) had its target price cut by Raymond James from C$22.25 to C$21.50 in a research report sent to investors on Friday morning,BayStreet.CA reports.

Separately, Royal Bank of Canada reduced their target price on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$22.50.

Killam Apartment REIT Trading Down 3.1 %

KMP.UN opened at C$16.16 on Friday. Killam Apartment REIT has a fifty-two week low of C$15.83 and a fifty-two week high of C$21.72. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The firm has a market capitalization of C$1.92 billion, a price-to-earnings ratio of 6.22 and a beta of 1.10. The company’s 50 day moving average price is C$16.95 and its two-hundred day moving average price is C$18.57.

Killam Apartment REIT Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be given a $0.06 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.46%. This is an increase from Killam Apartment REIT’s previous monthly dividend of $0.06. Killam Apartment REIT’s payout ratio is 26.92%.

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.