Brokerages Set Killam Apartment REIT (TSE:KMP.UN) Target Price at C$22.50

Killam Apartment REIT (TSE:KMP.UN) has been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$22.50.

A number of equities analysts recently weighed in on the stock. Ventum Financial lifted their price objective on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. Raymond James upgraded shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from C$22.50 to C$24.00 in a research report on Friday, September 6th. TD Securities lifted their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. National Bankshares lifted their price objective on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada lowered their price objective on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th.

Killam Apartment REIT Stock Performance

Shares of KMP.UN opened at C$18.03 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The firm has a market cap of C$2.15 billion, a PE ratio of 7.08 and a beta of 1.10. The company’s 50 day simple moving average is C$19.54 and its 200-day simple moving average is C$18.72. Killam Apartment REIT has a 12-month low of C$16.62 and a 12-month high of C$21.72.

Killam Apartment REIT Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were issued a $0.0583 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Thursday, October 31st. Killam Apartment REIT’s dividend payout ratio (DPR) 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.