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

Killam Apartment REIT (TSE:KMP.UN) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$22.50.

A number of research analysts recently commented on the stock. Raymond James raised shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from C$22.50 to C$24.00 in a research report on Friday, September 6th. National Bankshares lifted their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. Ventum Financial raised their target price on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. TD Securities raised their price objective 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. Finally, Royal Bank of Canada dropped their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th.

Killam Apartment REIT Stock Up 0.3 %

Shares of TSE:KMP.UN opened at C$18.24 on Friday. The firm’s 50-day moving average is C$19.73 and its two-hundred day moving average is C$18.69. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. Killam Apartment REIT has a 1 year low of C$16.62 and a 1 year high of C$21.72. The firm has a market capitalization of C$2.17 billion, a PE ratio of 7.02 and a beta of 1.10.

Killam Apartment REIT Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a dividend of $0.0583 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.70 annualized dividend and a yield of 3.84%. Killam Apartment REIT’s dividend 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.