Killam Apartment REIT Declares Monthly Dividend of $0.06 (TSE:KMP.UN)

Killam Apartment REIT (TSE:KMP.UN) announced a monthly dividend on Friday, June 28th, TickerTech reports. Shareholders of record on Monday, July 15th will be paid a dividend of 0.0583 per share on Monday, July 15th. This represents a $0.70 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Friday, June 28th.

Killam Apartment REIT Price Performance

Shares of TSE:KMP.UN traded up C$0.27 during midday trading on Thursday, reaching C$16.95. 168,225 shares of the company’s stock were exchanged, compared to its average volume of 258,853. The company has a debt-to-equity ratio of 85.23, a quick ratio of 0.03 and a current ratio of 0.11. The company’s 50 day simple moving average is C$17.28 and its two-hundred day simple moving average is C$18.11. Killam Apartment REIT has a 12 month low of C$15.36 and a 12 month high of C$20.13. The firm has a market capitalization of C$2.01 billion, a PE ratio of 6.49 and a beta of 1.06.

Analyst Ratings Changes

Several equities analysts recently commented on KMP.UN shares. TD Securities cut their target price on Killam Apartment REIT from C$23.00 to C$22.00 in a research report on Wednesday, April 24th. Scotiabank reduced their target price on shares of Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating on the stock in a research note on Monday, March 25th. Royal Bank of Canada increased their target price on shares of Killam Apartment REIT from C$23.50 to C$24.00 in a research report on Thursday, May 9th. National Bankshares reduced their price target on shares of Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Finally, Raymond James dropped their price objective on shares of Killam Apartment REIT from C$22.75 to C$21.75 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.93.

Killam Apartment REIT Company Profile

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.