Killam Apartment REIT (TSE:KMP.UN) Price Target Raised to C$24.00

Killam Apartment REIT (TSE:KMP.UN) had its price target lifted by National Bankshares from C$22.75 to C$24.00 in a research note released on Wednesday, BayStreet.CA reports.

KMP.UN has been the topic of several other research reports. Royal Bank of Canada lifted their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a research note on Friday, August 9th. Ventum Financial lifted their price target on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research note on Friday, August 9th. TD Securities lifted their price target on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a buy rating in a research note on Wednesday, September 4th. Finally, Raymond James raised shares of Killam Apartment REIT from an outperform rating to a strong-buy rating and lifted their price target for the company from C$22.50 to C$24.00 in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of C$22.45.

Killam Apartment REIT Price Performance

Shares of TSE:KMP.UN opened at C$19.64 on Wednesday. The company has a 50 day moving average of C$19.99 and a 200-day moving average of C$18.42. Killam Apartment REIT has a one year low of C$15.36 and a one year high of C$21.72. The stock has a market cap of C$2.34 billion, a price-to-earnings ratio of 7.55 and a beta of 1.09. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03.

Killam Apartment REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.0583 dividend. This represents a $0.70 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Friday, September 27th. Killam Apartment REIT’s dividend payout ratio is currently 26.92%.

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.