Killam Apartment REIT (TSE:KMP.UN) Given New C$23.00 Price Target at TD Securities

Killam Apartment REIT (TSE:KMP.UN) had its price target increased by TD Securities from C$22.00 to C$23.00 in a research report released on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on KMP.UN. Royal Bank of Canada boosted their price target on Killam Apartment REIT from C$22.00 to C$23.00 in a report on Friday, August 9th. Ventum Financial upped their price objective on Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Killam Apartment REIT has a consensus rating of Moderate Buy and a consensus target price of C$22.02.

Killam Apartment REIT Trading Up 1.8 %

Shares of TSE:KMP.UN opened at C$20.39 on Wednesday. The stock has a 50 day moving average of C$18.54 and a 200 day moving average of C$18.14. The company has a market cap of C$2.43 billion, a PE ratio of 7.85 and a beta of 1.09. The company has a current ratio of 0.11, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. Killam Apartment REIT has a 12-month low of C$15.36 and a 12-month high of C$20.53.

Killam Apartment REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were issued a $0.0583 dividend. This represents a $0.70 annualized dividend and a yield of 3.43%. The ex-dividend date was Wednesday, July 31st. Killam Apartment REIT’s payout ratio is currently 26.92%.

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.