Killam Apartment REIT (TSE:KMP.UN) Receives C$22.50 Consensus Target Price from Analysts

Shares of Killam Apartment REIT (TSE:KMP.UN) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$22.50.

A number of equities research analysts have recently commented on KMP.UN shares. Royal Bank of Canada dropped their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. National Bankshares raised their price objective on Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Raymond James raised Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from C$22.50 to C$24.00 in a research note on Friday, September 6th. TD Securities increased their target price on Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Ventum Financial boosted their price target on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th.

Killam Apartment REIT Stock Performance

The firm’s 50 day moving average price is C$19.42 and its two-hundred day moving average price is C$18.74. The firm has a market capitalization of C$2.19 billion, a price-to-earnings ratio of 7.08 and a beta of 1.10. Killam Apartment REIT has a 52-week low of C$16.62 and a 52-week high of C$21.72. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a dividend of $0.0583 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.70 annualized dividend and a yield of ∞. Killam Apartment REIT’s dividend payout ratio is presently 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.