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

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

Killam Apartment REIT Stock Up 0.3 %

TSE KMP.UN traded up C$0.05 during trading on Friday, reaching C$17.27. 75,588 shares of the company’s stock were exchanged, compared to its average volume of 230,762. Killam Apartment REIT has a fifty-two week low of C$15.36 and a fifty-two week high of C$20.13. The firm has a market capitalization of C$2.04 billion, a PE ratio of 7.68 and a beta of 1.05. The company has a current ratio of 0.08, a quick ratio of 0.03 and a debt-to-equity ratio of 88.09. The company’s fifty day simple moving average is C$18.44 and its 200-day simple moving average is C$18.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on KMP.UN shares. Raymond James cut their price target on Killam Apartment REIT from C$22.75 to C$21.75 and set an “outperform” rating for the company in a research note on Wednesday. Royal Bank of Canada raised their price target on Killam Apartment REIT from C$23.00 to C$23.50 and gave the stock an “outperform” rating in a research note on Friday, February 16th. CIBC raised their price target on Killam Apartment REIT from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. National Bankshares cut their price target on Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Scotiabank cut their price target on Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating for the company in a research note on Monday, March 25th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Killam Apartment REIT has an average rating of “Moderate Buy” and an average price target 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.