National Bankshares Cuts Killam Apartment REIT (TSE:KMP.UN) Price Target to C$21.50

Killam Apartment REIT (TSE:KMP.UN) had its price objective reduced by National Bankshares from C$22.75 to C$21.50 in a research note published on Wednesday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. Scotiabank cut their target price 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 raised their target price on shares of Killam Apartment REIT from C$20.00 to C$22.00 and gave the company an outperform rating in a research report on Friday, February 16th. Laurentian lowered shares of Killam Apartment REIT from a buy rating to a hold rating and set a C$20.50 target price on the stock. in a research report on Monday, January 22nd. Raymond James cut their price target on shares of Killam Apartment REIT from C$22.75 to C$21.75 and set an outperform rating on the stock in a report on Wednesday. Finally, TD Securities cut their price target on shares of Killam Apartment REIT from C$23.00 to C$22.00 in a report on Wednesday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$21.88.

Killam Apartment REIT Stock Performance

Shares of Killam Apartment REIT stock opened at C$17.27 on Wednesday. Killam Apartment REIT has a fifty-two week low of C$15.36 and a fifty-two week high of C$20.13. The company has a debt-to-equity ratio of 88.09, a current ratio of 0.08 and a quick ratio of 0.03. The firm has a market capitalization of C$2.04 billion, a P/E ratio of 7.68 and a beta of 1.05. The company’s 50 day moving average price is C$18.44 and its two-hundred day moving average price is C$18.00.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be issued a $0.0583 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.70 annualized dividend and a yield of 4.05%. Killam Apartment REIT’s payout ratio is 31.11%.

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.