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

Killam Apartment REIT (TSE:KMP.UN) declared a monthly dividend on Wednesday, July 31st, TickerTech reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.0583 per share on Thursday, August 15th. This represents a $0.70 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, July 31st.

Killam Apartment REIT Trading Up 1.4 %

TSE KMP.UN opened at C$19.04 on Monday. The company has a debt-to-equity ratio of 85.23, a current ratio of 0.11 and a quick ratio of 0.03. The stock’s 50-day moving average is C$17.54 and its 200-day moving average is C$18.09. Killam Apartment REIT has a one year low of C$15.36 and a one year high of C$20.13. The firm has a market cap of C$2.26 billion, a P/E ratio of 7.30 and a beta of 1.06.

Wall Street Analysts Forecast Growth

KMP.UN has been the topic of several research analyst reports. Raymond James dropped their target price 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, April 24th. Royal Bank of Canada raised their price objective on shares of Killam Apartment REIT from C$23.50 to C$24.00 in a report on Thursday, May 9th. National Bankshares reduced their target price on shares of 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, April 24th. Finally, TD Securities lowered their target price on Killam Apartment REIT from C$23.00 to C$22.00 in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$21.93.

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.