Killam Apartment REIT (TSE:KMP.UN) Stock Now Rated “Buy” by Wall Street Analysts

Shares of Killam Apartment REIT (TSE:KMP.UN) have received a consensus rating of “Buy” from the seven analysts that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$20.44.

KMP.UN has been the subject of a number of recent analyst reports. TD boosted 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 report on Friday, August 7th. Scotia increased their price objective 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. Finally, Raymond James Financial lifted their price objective on 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.

Killam Apartment REIT Stock Performance

Killam Apartment REIT stock opened at C$17.59 on Wednesday. The firm’s 50 day simple moving average is C$17.67 and its 200 day simple moving average is C$17.96. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The firm has a market capitalization of C$2.11 billion, a PE ratio of 261.43 and a beta of 0.79. Killam Apartment REIT has a 1-year low of C$15.65 and a 1-year high of C$19.21.

Killam Apartment REIT (TSE:KMP.UN) last posted its earnings results on Wednesday, August 5th. The company reported C$0.53 earnings per share (EPS) for the quarter. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%. The business had revenue of C$99.16 million for the quarter. As a group, analysts expect that Killam Apartment REIT will post 1.29 earnings per share for the current fiscal year.

Killam Apartment REIT Dividend Announcement

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

Killam Apartment REIT Company Profile

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.