Killam Apartment REIT (TSE:KMP.UN) Reaches New 1-Year Low After Analyst Downgrade

Shares of Killam Apartment REIT (TSE:KMP.UN) hit a new 52-week low during mid-day trading on Monday after Raymond James lowered their price target on the stock from C$23.50 to C$22.25. The company traded as low as C$16.59 and last traded at C$16.61, with a volume of 44837 shares changing hands. The stock had previously closed at C$16.79.

A number of other equities research analysts have also recently commented on KMP.UN. Royal Bank of Canada decreased their price objective on Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th. National Bankshares boosted their target price on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$22.38.

Killam Apartment REIT Stock Performance

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 stock’s 50 day moving average price is C$17.80 and its 200 day moving average price is C$18.77. The company has a market capitalization of C$1.99 billion, a price-to-earnings ratio of 6.42 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a $0.0583 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.70 annualized dividend and a dividend yield of 4.19%. Killam Apartment REIT’s dividend payout ratio 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.