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

Shares of Killam Apartment REIT (TSE:KMP.UN - Get Free Report) have earned 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 recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$22.50.

A number of equities analysts have commented on KMP.UN shares. National Bankshares lifted their price objective on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. Raymond James upgraded Killam Apartment REIT from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from C$22.50 to C$24.00 in a research report on Friday, September 6th. Royal Bank of Canada decreased their price objective on Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. Finally, TD Securities lifted 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 Wednesday, September 4th.

Killam Apartment REIT Price Performance

Shares of TSE:KMP.UN traded up C$0.10 during trading on Tuesday, hitting C$17.65. 246,784 shares of the company's stock were exchanged, compared to its average volume of 255,714. The business's 50-day simple moving average is C$18.79 and its 200 day simple moving average is C$18.78. The company has a market cap of C$2.10 billion, a price-to-earnings ratio of 6.80 and a beta of 1.10. Killam Apartment REIT has a 52-week low of C$16.62 and a 52-week high of C$21.72. 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 company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were paid 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 3.96%. 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.