Killam Apartment REIT (TSE:KMP.UN) had its price objective hoisted by investment analysts at Royal Bank of Canada from C$20.50 to C$21.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 8.08% from the company’s current price.
A number of other research firms have also recently commented on KMP.UN. CIBC boosted their target price on shares of Killam Apartment REIT from C$21.00 to C$22.00 in a research note on Thursday. Canaccord Genuity boosted their target price on shares of Killam Apartment REIT from C$19.75 to C$20.50 in a research note on Wednesday, September 4th. National Bank Financial set a C$22.00 target price on shares of Killam Apartment REIT and gave the stock an “outperform” rating in a research note on Monday, November 4th. Raymond James set a C$21.00 target price on shares of Killam Apartment REIT and gave the stock a “market perform” rating in a research note on Thursday. Finally, TD Securities boosted their target price on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of C$20.89.
KMP.UN stock opened at C$19.43 on Friday. The stock has a market capitalization of $1.78 billion and a P/E ratio of 9.82. The firm has a 50-day simple moving average of C$20.00 and a 200-day simple moving average of C$19.62. The company has a quick ratio of 0.02, a current ratio of 0.12 and a debt-to-equity ratio of 110.35. Killam Apartment REIT has a 52 week low of C$15.34 and a 52 week high of C$21.21.
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.
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