Analysts Set Killam Apartment REIT (TSE:KMP.UN) Price Target at C$22.20

Killam Apartment REIT (TSE:KMP.UN) has been given an average recommendation of “Moderate Buy” by the ten research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$22.20.

KMP.UN has been the subject of a number of recent analyst reports. TD Securities boosted their target price on shares of Killam Apartment REIT from C$21.00 to C$23.00 and gave the company a “buy” rating in a research note on Friday, February 16th. BMO Capital Markets lifted their price objective on Killam Apartment REIT from C$20.50 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Laurentian downgraded Killam Apartment REIT from a “buy” rating to a “hold” rating and set a C$20.50 price objective for the company. in a report on Monday, January 22nd. Scotiabank decreased their price objective on Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating for the company in a report on Monday, March 25th. Finally, Desjardins lifted their price objective on Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a report on Friday, February 16th.

Killam Apartment REIT Stock Down 0.4 %

TSE KMP.UN opened at C$16.81 on Thursday. The company has a quick ratio of 0.03, a current ratio of 0.08 and a debt-to-equity ratio of 88.09. The company has a fifty day moving average of C$18.79 and a two-hundred day moving average of C$18.00. The firm has a market capitalization of C$1.99 billion, a price-to-earnings ratio of 7.51 and a beta of 1.05. Killam Apartment REIT has a 52 week low of C$15.36 and a 52 week high of C$20.13.

Killam Apartment REIT Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.16%. Killam Apartment REIT’s dividend payout ratio (DPR) is 31.11%.

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.