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

Shares of Killam Apartment REIT (TSE:KMP.UN) have earned an average rating of “Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$20.44.

KMP.UN has been the topic of several recent research reports. Raymond James Financial lifted their target price on shares of Killam Apartment REIT from C$21.00 to C$21.25 and gave the stock an “outperform” rating in a research report on Friday, August 7th. TD raised their price target on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Scotia lifted their price target on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock a “sector outperform” rating in a report on Friday, August 7th.

Killam Apartment REIT Price Performance

Shares of KMP.UN opened at C$17.88 on Tuesday. The stock has a fifty day moving average of C$18.60 and a 200-day moving average of C$17.78. Killam Apartment REIT has a 52 week low of C$15.65 and a 52 week high of C$19.21. The stock has a market capitalization of C$2.14 billion, a price-to-earnings ratio of 265.74 and a beta of 0.78. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10.

Killam Apartment REIT (TSE:KMP.UN) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$0.53 earnings per share for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%.The company had revenue of C$99.16 million for the quarter. As a group, sell-side analysts anticipate that Killam Apartment REIT will post 1.2904074 earnings per share for the current fiscal year.

Killam Apartment REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were given a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Killam Apartment REIT’s dividend payout ratio (DPR) is currently 1,070.11%.

About Killam Apartment REIT

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.