Analysts Set Killam Apartment REIT (TSE:KMP.UN) Price Target at C$22.23

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$22.23.

KMP.UN has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a report on Friday, August 9th. TD Securities boosted their target price 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. Ventum Financial boosted their target price on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. Finally, Raymond James upgraded shares of Killam Apartment REIT from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from C$22.50 to C$24.00 in a report on Friday, September 6th.

Killam Apartment REIT Price Performance

Shares of KMP.UN traded down C$0.40 during trading hours on Thursday, reaching C$20.19. 368,564 shares of the stock traded hands, compared to its average volume of 251,195. The company has a market cap of C$2.40 billion, a P/E ratio of 7.92 and a beta of 1.09. Killam Apartment REIT has a 52-week low of C$15.36 and a 52-week high of C$21.72. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The company's 50-day moving average price is C$19.87 and its two-hundred day moving average price is C$18.38.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.0583 per share. The ex-dividend date is Friday, September 27th. This represents a $0.70 dividend on an annualized basis and a yield of 3.47%. Killam Apartment REIT's payout ratio is 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.