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

Killam Apartment REIT (TSE:KMP.UN) issued its quarterly earnings results on Wednesday. The company reported C$0.44 EPS for the quarter, FiscalAI reports. The business had revenue of C$100.83 million for the quarter. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%.

Killam Apartment REIT Trading Up 1.3%

Shares of Killam Apartment REIT stock opened at C$17.66 on Thursday. Killam Apartment REIT has a fifty-two week low of C$15.65 and a fifty-two 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 business has a fifty day simple moving average of C$17.41 and a 200-day simple moving average of C$17.64. The firm has a market cap of C$2.12 billion, a price-to-earnings ratio of 262.47 and a beta of 0.79.

Killam Apartment REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be issued a $0.06 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.72 annualized dividend and a dividend yield of 4.1%. Killam Apartment REIT’s dividend payout ratio is 1,070.11%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James Financial upped their price objective on Killam Apartment REIT from C$21.00 to C$21.25 and gave the company an “outperform” rating in a research note on Friday, August 7th. Scotia raised their price target on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 7th. Finally, TD lifted their price target on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the company a “buy” rating in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$20.44.

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.