Killam Apartment REIT (TSE:KMP.UN) Given Average Recommendation of “Moderate Buy” by Analysts

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

KMP.UN has been the subject of a number of analyst reports. Raymond James raised shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from C$22.50 to C$24.00 in a research report 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 stock a “buy” rating in a research note on Wednesday, September 4th. Royal Bank of Canada reduced their price target on Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. Ventum Financial boosted their target price on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. Finally, National Bankshares raised their price objective on Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th.

Killam Apartment REIT Stock Performance

Shares of TSE:KMP.UN opened at C$18.24 on Friday. The firm’s 50 day simple moving average is C$19.73 and its 200 day simple moving average is C$18.69. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The company has a market capitalization of C$2.17 billion, a price-to-earnings ratio of 7.02 and a beta of 1.10. Killam Apartment REIT has a fifty-two week low of C$16.62 and a fifty-two week high of C$21.72.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a $0.0583 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.70 dividend on an annualized basis and a yield of 3.84%. Killam Apartment REIT’s dividend payout ratio is presently 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.