Killam Apartment REIT (TSE:KMP.UN) to Issue Monthly Dividend of $0.06

Killam Apartment REIT (TSE:KMP.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.0583 per share on Wednesday, May 15th. This represents a $0.70 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Monday, April 29th.

Killam Apartment REIT Stock Up 0.3 %

Shares of KMP.UN opened at C$17.27 on Friday. Killam Apartment REIT has a one year low of C$15.36 and a one year high of C$20.13. The company has a market cap of C$2.04 billion, a P/E ratio of 7.68 and a beta of 1.05. The company has a debt-to-equity ratio of 88.09, a current ratio of 0.08 and a quick ratio of 0.03. The firm has a 50 day simple moving average of C$18.44 and a two-hundred day simple moving average of C$18.00.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KMP.UN. Scotiabank lowered their price target 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 report on Monday, March 25th. Desjardins increased 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. CIBC increased their price objective on Killam Apartment REIT from C$20.00 to C$22.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Royal Bank of Canada increased their price objective on Killam Apartment REIT from C$23.00 to C$23.50 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, BMO Capital Markets increased 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$21.88.

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.