Killam Apartment REIT (TSE:KMP.UN) Hits New 1-Year High on Analyst Upgrade

Killam Apartment REIT (TSE:KMP.UN) reached a new 52-week high during trading on Wednesday after TD Securities raised their price target on the stock from C$22.00 to C$23.00. TD Securities currently has a buy rating on the stock. Killam Apartment REIT traded as high as C$20.22 and last traded at C$20.22, with a volume of 3581 shares trading hands. The stock had previously closed at C$20.02.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada lifted their target price on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a report on Friday, August 9th. Ventum Financial upped their price target on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Killam Apartment REIT has an average rating of “Moderate Buy” and an average price target of C$22.02.

Killam Apartment REIT Price Performance

The stock has a market capitalization of C$2.44 billion, a P/E ratio of 7.91 and a beta of 1.09. The company has a current ratio of 0.11, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The company has a fifty day simple moving average of C$18.62 and a two-hundred day simple moving average of C$18.16.

Killam Apartment REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 15th were given a $0.0583 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.70 annualized dividend and a dividend yield of ∞. 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.