Killam Apartment REIT (TSE:KMP.UN) Posts Earnings Results

Killam Apartment REIT (TSE:KMP.UN) issued its quarterly earnings results on Wednesday. The company reported C$0.53 earnings per share (EPS) for the quarter, reports. The business had revenue of C$99.16 million for the quarter. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%.

Killam Apartment REIT Price Performance

Killam Apartment REIT stock remained flat at C$18.55 during mid-day trading on Wednesday. 182,576 shares of the company’s stock were exchanged, compared to its average volume of 375,680. The business’s 50-day simple moving average is C$18.71 and its 200-day simple moving average is C$17.63. Killam Apartment REIT has a 12 month low of C$15.65 and a 12 month high of C$19.21. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The company has a market cap of C$2.27 billion, a P/E ratio of -94.99 and a beta of 0.79.

Killam Apartment REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 3.9%. Killam Apartment REIT’s dividend payout ratio (DPR) is -368.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KMP.UN shares. Scotia lifted their price objective on Killam Apartment REIT from C$19.50 to C$20.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. TD raised their price target on Killam Apartment REIT from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their price target on Killam Apartment REIT from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. National Bank Financial upped their price objective on Killam Apartment REIT from C$19.75 to C$20.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Raymond James Financial increased their price objective on Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, Killam Apartment REIT has a consensus rating of “Buy” and a consensus target price of C$20.23.

Killam Apartment REIT Company Profile

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada’s largest residential real estate investment trusts, owning, operating and developing a $5.4 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 which target newer properties and through the disposition of non-core assets, and 3) developing high-quality properties in its core markets.