Raymond James Financial Issues Positive Forecast for Killam Apartment REIT (TSE:KMP.UN) Stock Price

Killam Apartment REIT (TSE:KMP.UN) had its target price lifted by Raymond James Financial from C$21.00 to C$21.25 in a research report released on Friday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on KMP.UN. Royal Bank Of Canada boosted their price objective on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Scotia increased their target price on shares of Killam Apartment REIT from C$19.50 to C$20.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. National Bank Financial lifted their target price on shares of Killam Apartment REIT from C$19.75 to C$20.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, TD boosted their price target on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Friday. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Killam Apartment REIT presently has a consensus rating of “Buy” and an average target price of C$20.45.

Killam Apartment REIT Stock Performance

Shares of TSE KMP.UN opened at C$18.87 on Friday. The stock’s 50-day moving average is C$18.72 and its 200 day moving average is C$17.65. The stock has a market cap of C$2.30 billion, a price-to-earnings ratio of -96.63 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. 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 (TSE:KMP.UN) last issued 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 return on equity of 12.07% and a net margin of 86.91%.The business had revenue of C$99.16 million during the quarter. On average, sell-side analysts anticipate that Killam Apartment REIT will post 1.2904074 EPS for the current fiscal year.

Killam Apartment REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, July 31st. Killam Apartment REIT’s payout ratio is -368.68%.

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.