Killam Apartment REIT (TSE:KMP.UN) Given Average Rating of “Moderate Buy” by Analysts

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 company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$22.50.

KMP.UN has been the topic of a number of research analyst reports. TD Securities lifted their target price on 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. Raymond James upgraded shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from C$22.50 to C$24.00 in a research report on Friday, September 6th. National Bankshares boosted their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Finally, Royal Bank of Canada cut their target price on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th.

Killam Apartment REIT Stock Performance

KMP.UN stock opened at C$17.55 on Tuesday. The company has a 50-day simple moving average of C$18.84 and a 200 day simple moving average of C$18.79. The company has a market capitalization of C$2.09 billion, a P/E ratio of 6.75 and a beta of 1.10. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05. Killam Apartment REIT has a fifty-two week low of C$16.62 and a fifty-two week high of C$21.72.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were given a $0.0583 dividend. This represents a $0.70 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, October 31st. Killam Apartment REIT’s payout ratio is currently 26.92%.

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.