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

Killam Apartment REIT (TSE:KMP.UN) shares 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 stock traded as low as C$16.59 and last traded at C$16.61, with a volume of 44837 shares trading hands. The stock had previously closed at C$16.79.

Other research analysts have also issued reports about the company. National Bankshares increased their target price on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Royal Bank of Canada decreased their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$22.38.

Killam Apartment REIT Trading Down 0.4 %

The company has a market capitalization of C$1.99 billion, a P/E ratio of 6.43 and a beta of 1.10. The company has a fifty day simple moving average of C$17.76 and a two-hundred day simple moving average of C$18.76. 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 Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were issued a dividend of $0.0583 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.70 annualized dividend and a yield of 4.18%. Killam Apartment REIT’s dividend payout ratio (DPR) 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.