Killam Apartment REIT (TSE:KMP.UN) Sets New 12-Month Low – Here’s What Happened

Killam Apartment REIT (TSE:KMP.UN) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as C$15.83 and last traded at C$16.29, with a volume of 511465 shares. The stock had previously closed at C$16.53.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Raymond James cut their price target on shares of Killam Apartment REIT from C$23.50 to C$22.25 in a report on Monday, January 13th. National Bankshares boosted their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada decreased their price target on Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$22.58.

Killam Apartment REIT Stock Performance

The stock has a market cap of C$1.94 billion, a P/E ratio of 6.27 and a beta of 1.10. The firm has a 50 day moving average of C$17.31 and a two-hundred day moving average of C$18.71. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10.

Killam Apartment REIT Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be given a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.42%. This is a boost from Killam Apartment REIT’s previous monthly dividend of $0.06. The ex-dividend date is Friday, January 31st. 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.