Killam Apartment REIT (TSE:KMP.UN) Increases Dividend to $0.06 Per Share

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) declared a monthly dividend on Friday, January 31st,TickerTech Dividends reports. Investors of record on Tuesday, February 18th will be given a dividend of 0.06 per share on Tuesday, February 18th. This represents a $0.72 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Friday, January 31st. This is a positive change from Killam Apartment REIT's previous monthly dividend of $0.06.

Killam Apartment REIT Stock Performance

TSE KMP.UN traded down C$0.04 during trading on Friday, reaching C$16.53. The company's stock had a trading volume of 686,742 shares, compared to its average volume of 363,817. Killam Apartment REIT has a 12 month low of C$16.38 and a 12 month high of C$21.72. The firm has a 50 day moving average price of C$17.31 and a 200 day moving average price of C$18.71. The firm has a market capitalization of C$1.97 billion, a price-to-earnings ratio of 6.36 and a beta of 1.10. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KMP.UN shares. National Bankshares increased their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Royal Bank of Canada reduced their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th. Finally, Raymond James dropped their price target on Killam Apartment REIT from C$23.50 to C$22.25 in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Killam Apartment REIT currently has a consensus rating of "Buy" and an average price target of C$22.58.

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.