Killam Apartment REIT (TSE:KMP.UN) Receives C$22.45 Consensus Target Price from Brokerages

Killam Apartment REIT (TSE:KMP.UN) has earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$22.45.

Several analysts recently commented on KMP.UN shares. National Bankshares lifted their price objective on Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. TD Securities lifted their price objective 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. Ventum Financial lifted their price objective on Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. Royal Bank of Canada boosted their price target on Killam Apartment REIT from C$22.00 to C$23.00 in a report on Friday, August 9th. Finally, Raymond James raised Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from C$22.50 to C$24.00 in a report on Friday, September 6th.

Killam Apartment REIT Stock Performance

Shares of KMP.UN opened at C$19.14 on Monday. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. Killam Apartment REIT has a one year low of C$15.36 and a one year high of C$21.72. The firm has a market capitalization of C$2.28 billion, a P/E ratio of 7.39 and a beta of 1.10. The business has a fifty day moving average of C$20.24 and a 200 day moving average of C$18.56.

Killam Apartment REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be paid a $0.0583 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Thursday, October 31st. Killam Apartment REIT’s dividend payout ratio (DPR) 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.