Killam Apartment REIT (TSE:KMP.UN) Announces $0.06 Monthly Dividend

Killam Apartment REIT (TSE:KMP.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.0583 per share on Wednesday, May 15th. This represents a $0.70 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Monday, April 29th.

Killam Apartment REIT Price Performance

KMP.UN opened at C$17.27 on Friday. The company has a fifty day moving average price of C$18.44 and a two-hundred day moving average price of C$18.00. The firm has a market capitalization of C$2.04 billion, a PE ratio of 7.68 and a beta of 1.05. Killam Apartment REIT has a 52 week low of C$15.36 and a 52 week high of C$20.13. The company has a debt-to-equity ratio of 88.09, a quick ratio of 0.03 and a current ratio of 0.08.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KMP.UN. Scotiabank reduced their price target on shares of Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating on the stock in a research report on Monday, March 25th. CIBC lifted their price target on shares of Killam Apartment REIT from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Laurentian cut shares of Killam Apartment REIT from a “buy” rating to a “hold” rating and set a C$20.50 price target on the stock. in a research report on Monday, January 22nd. Desjardins lifted their price target on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada lifted their price target on shares of Killam Apartment REIT from C$23.00 to C$23.50 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.88.

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.