Killam Apartment REIT (TSE:KMP.UN) Price Target Cut to C$21.75 by Analysts at Raymond James

Killam Apartment REIT (TSE:KMP.UN) had its target price reduced by Raymond James from C$22.75 to C$21.75 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target suggests a potential upside of 26.31% from the company’s current price.

Several other analysts have also issued reports on the company. Desjardins upped their target price on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Laurentian lowered Killam Apartment REIT from a “buy” rating to a “hold” rating and set a C$20.50 target price on the stock. in a report on Monday, January 22nd. Royal Bank of Canada upped their target price on Killam Apartment REIT from C$23.00 to C$23.50 and gave the stock an “outperform” rating in a report on Friday, February 16th. National Bankshares upped their target price on Killam Apartment REIT from C$22.00 to C$22.75 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, BMO Capital Markets boosted their price target on Killam Apartment REIT from C$20.50 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$21.88.

Killam Apartment REIT Stock Performance

KMP.UN opened at C$17.22 on Wednesday. Killam Apartment REIT has a 52-week low of C$15.36 and a 52-week high of C$20.13. The firm has a market capitalization of C$2.04 billion, a PE ratio of 7.65 and a beta of 1.05. The company has a debt-to-equity ratio of 88.09, a quick ratio of 0.03 and a current ratio of 0.08. The business’s 50-day simple moving average is C$18.49 and its 200 day simple moving average is C$17.99.

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.