Killam Apartment REIT (TSE:KMP.UN) Receives C$22.23 Average Price Target from Brokerages

Shares of Killam Apartment REIT (TSE:KMP.UN) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$22.23.

A number of equities analysts have recently commented on KMP.UN shares. Ventum Financial increased their price target on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. TD Securities increased their price target on shares of 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. Royal Bank of Canada increased their price target on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a report on Friday, August 9th. Finally, Raymond James raised shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from C$22.50 to C$24.00 in a report on Friday, September 6th.

Killam Apartment REIT Price Performance

The business has a 50 day moving average of C$18.99 and a two-hundred day moving average of C$18.20. The company has a market cap of C$2.52 billion, a price-to-earnings ratio of 8.13 and a beta of 1.09. Killam Apartment REIT has a twelve month low of C$15.36 and a twelve month high of C$21.36. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were given a dividend of $0.0583 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.70 annualized dividend and a yield of ∞. Killam Apartment REIT’s payout ratio is currently 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.