Killam Apartment REIT (TSE:KMP.UN) Receives C$22.45 Average Target Price from Brokerages

Shares of Killam Apartment REIT (TSE:KMP.UN) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$22.45.

A number of research analysts have issued reports on the company. National Bankshares upped their price objective on Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. Ventum Financial increased 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 increased their price target on Killam Apartment REIT from C$22.00 to C$23.00 in a research note on Friday, August 9th. TD Securities increased 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 note on Wednesday, September 4th. Finally, Raymond James upgraded Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from C$22.50 to C$24.00 in a research note on Friday, September 6th.

Killam Apartment REIT Trading Down 0.4 %

TSE KMP.UN opened at C$19.14 on Monday. The firm has a market capitalization of C$2.28 billion, a P/E ratio of 7.39 and a beta of 1.10. The business has a fifty day simple moving average of C$20.24 and a 200 day simple moving average of C$18.56. Killam Apartment REIT has a 12 month low of C$15.36 and a 12 month high of C$21.72. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.0583 per share. This represents a $0.70 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend 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.