National Bankshares Raises Killam Apartment REIT (TSE:KMP.UN) Price Target to C$24.00

Killam Apartment REIT (TSE:KMP.UN) had its price target boosted by National Bankshares from C$22.75 to C$24.00 in a report released on Wednesday, BayStreet.CA reports.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada raised their target price on Killam Apartment REIT from C$22.00 to C$23.00 in a research report on Friday, August 9th. TD Securities raised their target price on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a buy rating in a research report on Wednesday, September 4th. Raymond James raised Killam Apartment REIT from an outperform rating to a strong-buy rating and raised their target price for the stock from C$22.50 to C$24.00 in a research report on Friday, September 6th. Finally, Ventum Financial raised their target price on Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of C$22.45.

Killam Apartment REIT Stock Performance

Killam Apartment REIT stock opened at C$19.64 on Wednesday. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. Killam Apartment REIT has a one year low of C$15.36 and a one year high of C$21.72. The stock has a market capitalization of C$2.34 billion, a PE ratio of 7.55 and a beta of 1.09. The business’s fifty day moving average is C$20.01 and its 200 day moving average is C$18.42.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.0583 per share. This represents a $0.70 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, September 27th. 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.