Killam Apartment REIT (TSE:KMP.UN) Receives C$22.50 Consensus PT from Analysts

Shares of Killam Apartment REIT (TSE:KMP.UN) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$22.50.

KMP.UN has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price target on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. TD Securities raised their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Ventum Financial raised their price objective on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. National Bankshares raised their price objective on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Finally, Raymond James raised shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from C$22.50 to C$24.00 in a research report on Friday, September 6th.

Killam Apartment REIT Price Performance

TSE KMP.UN opened at C$18.13 on Friday. The company has a 50 day simple moving average of C$19.60 and a 200-day simple moving average of C$18.71. 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$2.16 billion, a price-to-earnings ratio of 6.97 and a beta of 1.10. Killam Apartment REIT has a 52-week low of C$16.62 and a 52-week high of C$21.72.

Killam Apartment REIT Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were paid a dividend of $0.0583 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.70 dividend on an annualized basis and a yield of 3.86%. Killam Apartment REIT’s dividend payout ratio is currently 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.