Killam Apartment REIT (TSE:KMP.UN) Issues Quarterly Earnings Results

Killam Apartment REIT (TSE:KMP.UN) announced its earnings results on Wednesday. The company reported C$0.53 earnings per share (EPS) for the quarter, reports. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%. The company had revenue of C$99.16 million during the quarter.

Killam Apartment REIT Trading Up 1.2%

TSE:KMP.UN opened at C$18.77 on Friday. The firm has a market capitalization of C$2.29 billion, a P/E ratio of -96.11 and a beta of 0.79. Killam Apartment REIT has a 52 week low of C$15.65 and a 52 week high of C$19.21. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05. The company has a fifty day moving average of C$18.71 and a 200 day moving average of C$17.64.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be paid a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, July 31st. Killam Apartment REIT’s payout ratio is presently -368.68%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KMP.UN. National Bank Financial lifted their price target on Killam Apartment REIT from C$19.75 to C$20.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Scotia raised their price objective on Killam Apartment REIT from C$19.50 to C$20.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. TD boosted their target price on Killam Apartment REIT from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Royal Bank Of Canada upped their target price on Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Raymond James Financial increased their price target on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the company an “outperform” rating in a research report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$20.23.

Killam Apartment REIT Company Profile

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada’s largest residential real estate investment trusts, owning, operating and developing a $5.4 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 which target newer properties and through the disposition of non-core assets, and 3) developing high-quality properties in its core markets.