TD Securities Raises Killam Apartment REIT (TSE:KMP.UN) Price Target to C$23.00

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

Other analysts also recently issued reports about the stock. Ventum Financial boosted their target price on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. Royal Bank of Canada upped their price objective on Killam Apartment REIT from C$22.00 to C$23.00 in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of C$22.23.

Killam Apartment REIT Stock Up 0.2 %

Shares of KMP.UN opened at C$20.57 on Wednesday. The business’s 50 day simple moving average is C$18.76 and its 200-day simple moving average is C$18.18. Killam Apartment REIT has a 1 year low of C$15.36 and a 1 year high of C$20.82. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The stock has a market capitalization of C$2.45 billion, a price-to-earnings ratio of 7.91 and a beta of 1.09.

Killam Apartment REIT Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were given a dividend of $0.0583 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.70 annualized dividend and a dividend yield of 3.40%. Killam Apartment REIT’s dividend payout ratio (DPR) is presently 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.