Killam Apartment REIT (KMP.UN) Price Target Raised to C$19.00 at Raymond James
Killam Apartment REIT (TSE:KMP.UN) had its price objective hoisted by Raymond James from C$18.00 to C$19.00 in a research report issued to clients and investors on Thursday. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 6.50% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. CIBC raised their price objective on Killam Apartment REIT from C$16.50 to C$18.50 in a research note on Friday, November 9th. TD Securities raised their price objective on Killam Apartment REIT from C$17.50 to C$18.50 in a research note on Thursday, November 8th. National Bank Financial raised their price objective on Killam Apartment REIT from C$17.00 to C$18.00 in a research note on Thursday, November 1st. Canaccord Genuity raised their price objective on Killam Apartment REIT from C$15.85 to C$16.50 in a research note on Monday, October 29th. Finally, Desjardins raised their price objective on Killam Apartment REIT from C$17.50 to C$18.00 in a research note on Monday, November 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of C$18.08.
TSE KMP.UN opened at C$17.84 on Thursday. The company has a debt-to-equity ratio of 118.85, a quick ratio of 0.02 and a current ratio of 0.07. Killam Apartment REIT has a 52 week low of C$12.04 and a 52 week high of C$14.76. The stock has a market capitalization of $1.54 billion and a PE ratio of 8.99.
Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating, managing and developing a $2.7 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.
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