Killam Apartment REIT (KMP.UN) to Issue Monthly Dividend of $0.06 on November 15th

Killam Apartment REIT (TSE:KMP.UN) declared a monthly dividend on Thursday, October 31st, TickerTech reports. Investors of record on Friday, November 15th will be given a dividend of 0.0583 per share on Friday, November 15th. This represents a $0.70 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Thursday, October 31st.

Killam Apartment REIT Stock Down 0.3 %

TSE:KMP.UN traded down C$0.05 on Tuesday, hitting C$19.25. 44,705 shares of the company’s stock were exchanged, compared to its average volume of 251,396. The firm has a 50-day moving average price of C$20.24 and a 200-day moving average price of C$18.55. Killam Apartment REIT has a 52 week low of C$15.36 and a 52 week high of C$21.72. 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 company has a market cap of C$2.29 billion, a P/E ratio of 7.42 and a beta of 1.10.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KMP.UN. Raymond James upgraded Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from C$22.50 to C$24.00 in a report on Friday, September 6th. National Bankshares upped their price objective on Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. TD Securities raised their target price on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Ventum Financial upped their price target on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada lifted their price objective on shares of 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$22.45.

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.