Killam Apartment REIT (TSE:KMP.UN) Announces Quarterly Earnings Results

Killam Apartment REIT (TSE:KMP.UN) released its earnings results on Wednesday. The company reported C$0.44 EPS for the quarter, FiscalAI reports. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%. The company had revenue of C$100.83 million during the quarter.

Killam Apartment REIT Stock Performance

TSE:KMP.UN traded up C$0.23 during mid-day trading on Wednesday, hitting C$17.66. 251,792 shares of the company’s stock traded hands, compared to its average volume of 344,633. Killam Apartment REIT has a 12 month low of C$15.65 and a 12 month high of C$19.21. The firm has a 50 day moving average of C$17.43 and a two-hundred day moving average of C$17.64. The firm has a market capitalization of C$2.12 billion, a price-to-earnings ratio of 262.47 and a beta of 0.79. 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 Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, October 30th. Killam Apartment REIT’s payout ratio is 1,070.11%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KMP.UN. Raymond James Financial increased their price objective on shares of Killam Apartment REIT from C$21.00 to C$21.25 and gave the company an “outperform” rating in a research note on Friday, August 7th. TD upped their price objective on 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 target price on Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$20.44.

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.