Killam Apartment REIT (TSE:KMP.UN) Receives C$22.23 Average Price Target from Analysts

Shares of Killam Apartment REIT (TSE:KMP.UN) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$22.23.

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

Killam Apartment REIT Price Performance

The firm has a market cap of C$2.38 billion, a price-to-earnings ratio of 7.77 and a beta of 1.09. The business’s fifty day moving average price is C$19.92 and its 200-day moving average price is C$18.40. Killam Apartment REIT has a 52 week low of C$15.36 and a 52 week high of C$21.72. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT Dividend Announcement

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

Killam Apartment REIT Company Profile

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.