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

Killam Apartment REIT (TSE:KMP.UN) has earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$22.58.

KMP.UN has been the subject of a number of research analyst reports. Raymond James reduced their price objective on shares of Killam Apartment REIT from C$23.50 to C$22.25 in a research report on Monday, January 13th. Royal Bank of Canada reduced their target price on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th.

Killam Apartment REIT Stock Performance

Shares of TSE KMP.UN opened at C$16.65 on Wednesday. Killam Apartment REIT has a 12 month low of C$15.83 and a 12 month high of C$21.72. The stock has a 50 day moving average of C$17.11 and a 200-day moving average of C$18.64. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The company has a market capitalization of C$1.98 billion, a P/E ratio of 6.40 and a beta of 1.10.

Killam Apartment REIT Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Killam Apartment REIT’s previous monthly dividend of $0.06. Killam Apartment REIT’s dividend payout ratio (DPR) is 26.92%.

Killam Apartment REIT Company Profile

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.