Killam Properties Downgraded to Hold at Canaccord Genuity (KMP)
Killam Properties (TSE:KMP) was downgraded by equities research analysts at Canaccord Genuity to a “hold” rating in a research note issued to investors on Thursday, Analyst Ratings News reports. They currently have a C$11.25 price objective on the stock, down from their previous price objective of C$11.70. Canaccord Genuity’s target price would suggest a potential upside of 4.46% from the company’s current price.
Separately, analysts at Scotiabank initiated coverage on shares of Killam Properties in a research note on Wednesday. They set a “sector perform” rating and a C$11.75 price target on the stock. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Killam Properties currently has a consensus rating of “Buy” and a consensus price target of C$12.13.
Killam Properties (TSE:KMP) traded down 1.30% during mid-day trading on Thursday, hitting $10.63. 21,943 shares of the company’s stock traded hands. Killam Properties has a 1-year low of $9.91 and a 1-year high of $13.00. The stock has a 50-day moving average of $10.51 and a 200-day moving average of $10.56. The company has a market cap of $577.8 million and a price-to-earnings ratio of 10.56.
The company also recently announced a dividend, which is scheduled for Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $0.0457 per share. The ex-dividend date is Wednesday, February 26th.
Killam Properties Inc is a residential landlord, which owns and operates properties across Canada. As of December 31, 2010, it owned and operated 9,726 apartment units and 9,290 manufactured home communities (TSE:KMP) sites.
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