Killam Apartment REIT (TSE:KMP.UN) Price Target Raised to C$24.00 at Royal Bank of Canada

Killam Apartment REIT (TSE:KMP.UN) had its target price upped by equities researchers at Royal Bank of Canada from C$23.50 to C$24.00 in a report issued on Thursday, BayStreet.CA reports. Royal Bank of Canada’s target price would indicate a potential upside of 39.37% from the company’s current price.

A number of other analysts have also issued reports on KMP.UN. BMO Capital Markets increased their price target on shares of Killam Apartment REIT from C$20.50 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Desjardins raised their price objective on Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Laurentian cut Killam Apartment REIT from a “buy” rating to a “hold” rating and set a C$20.50 target price for the company. in a research report on Monday, January 22nd. National Bankshares reduced their price objective on shares of Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Finally, Scotiabank lowered their target price on shares of Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating on the stock in a research note on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$21.93.

Killam Apartment REIT Trading Up 0.1 %

Shares of TSE:KMP.UN traded up C$0.02 during mid-day trading on Thursday, hitting C$17.22. The stock had a trading volume of 730,573 shares, compared to its average volume of 255,624. Killam Apartment REIT has a 12-month low of C$15.36 and a 12-month high of C$20.13. The company has a debt-to-equity ratio of 88.09, a quick ratio of 0.03 and a current ratio of 0.08. The company has a market cap of C$2.04 billion, a PE ratio of 7.64 and a beta of 1.05. The company’s 50 day moving average is C$18.05 and its 200-day moving average is C$18.01.

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.