Killam Apartment REIT (TSE:KMP.UN) Receives C$21.88 Average Target Price from Brokerages

Killam Apartment REIT (TSE:KMP.UN) has been given an average recommendation of “Moderate Buy” by the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$21.88.

A number of research analysts have recently issued reports on the stock. Scotiabank decreased their target price on shares of Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating for the company in a research report on Monday, March 25th. National Bankshares decreased their price objective on shares of Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Raymond James decreased their price objective on shares of Killam Apartment REIT from C$22.75 to C$21.75 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. CIBC increased their price objective on shares of Killam Apartment REIT from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Royal Bank of Canada increased their target price on shares of Killam Apartment REIT from C$23.00 to C$23.50 and gave the company an “outperform” rating in a research report on Friday, February 16th.

Killam Apartment REIT Price Performance

Shares of TSE KMP.UN opened at C$17.20 on Monday. The firm has a market capitalization of C$2.04 billion, a P/E ratio of 7.64 and a beta of 1.05. The firm’s 50-day moving average price is C$18.05 and its 200-day moving average price is C$18.01. The company has a current ratio of 0.08, a quick ratio of 0.03 and a debt-to-equity ratio of 88.09. Killam Apartment REIT has a 1-year low of C$15.36 and a 1-year high of C$20.13.

Killam Apartment REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.0583 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Monday, April 29th. Killam Apartment REIT’s dividend payout ratio (DPR) is currently 31.11%.

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.