Killam Apartment REIT (TSE:KMP.UN) Given New C$21.75 Price Target at Raymond James

Killam Apartment REIT (TSE:KMP.UN) had its price target reduced by Raymond James from C$22.75 to C$21.75 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

Several other brokerages have also commented on KMP.UN. TD Securities lifted their target price on Killam Apartment REIT from C$21.00 to C$23.00 and gave the stock a buy rating in a research report on Friday, February 16th. Laurentian lowered Killam Apartment REIT from a buy rating to a hold rating and set a C$20.50 price objective for the company. in a research report on Monday, January 22nd. BMO Capital Markets boosted their price objective on Killam Apartment REIT from C$20.50 to C$22.00 and gave the company an outperform rating in a research report on Tuesday, February 20th. Scotiabank reduced their price objective on Killam Apartment REIT from C$21.00 to C$20.50 and set a sector perform rating for the company in a research report on Monday, March 25th. Finally, National Bankshares boosted their price objective on Killam Apartment REIT from C$22.00 to C$22.75 and gave the company an outperform rating in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Killam Apartment REIT presently has a consensus rating of Moderate Buy and an average price target of C$21.88.

Killam Apartment REIT Price Performance

Shares of KMP.UN opened at C$17.28 on Wednesday. The firm has a market cap of C$2.04 billion, a price-to-earnings ratio of 7.68 and a beta of 1.05. The stock has a 50 day moving average of C$18.54 and a 200-day moving average of C$18.00. The company has a current ratio of 0.08, a quick ratio of 0.03 and a debt-to-equity ratio of 88.09. Killam Apartment REIT has a 52 week low of C$15.36 and a 52 week high of C$20.13.

Killam Apartment REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.0583 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.70 dividend on an annualized basis and a yield of 4.05%. Killam Apartment REIT’s dividend payout ratio (DPR) is presently 31.11%.

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.