Killam Apartment REIT (TSE:KMP.UN) Receives Average Rating of “Buy” from Analysts

Killam Apartment REIT (TSE:KMP.UN) has been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$22.58.

A number of brokerages have recently issued reports on KMP.UN. Raymond James decreased their target price on Killam Apartment REIT from C$23.50 to C$22.25 in a research report on Monday, January 13th. National Bankshares lifted their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada reduced their price target on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th.

Killam Apartment REIT Stock Up 1.5 %

Shares of KMP.UN stock opened at C$16.53 on Wednesday. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. Killam Apartment REIT has a twelve month low of C$15.83 and a twelve month high of C$21.72. The stock has a 50 day moving average of C$17.24 and a 200 day moving average of C$18.68. The stock has a market cap of C$1.97 billion, a P/E ratio of 6.36 and a beta of 1.10.

Killam Apartment REIT Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.36%. This is an increase from Killam Apartment REIT’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Friday, January 31st. Killam Apartment REIT’s payout ratio is 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.