Killam Apartment REIT (TSE:KMP.UN) Hits New 12-Month Low After Analyst Downgrade

Killam Apartment REIT (TSE:KMP.UN)’s share price reached a new 52-week low during trading on Monday after Raymond James lowered their price target on the stock from C$23.50 to C$22.25. The company traded as low as C$16.59 and last traded at C$16.61, with a volume of 44837 shares changing hands. The stock had previously closed at C$16.79.

Several other research firms have also commented on KMP.UN. National Bankshares upped their price target on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Royal Bank of Canada cut their target price on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$22.38.

Killam Apartment REIT Price Performance

The stock has a 50 day simple moving average of C$17.72 and a 200-day simple moving average of C$18.74. The firm has a market cap of C$2.00 billion, a PE ratio of 6.46 and a beta of 1.10. 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 Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were given a dividend of $0.0583 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.17%. Killam Apartment REIT’s payout ratio is 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.