Killam Apartment REIT (TSE:KMP.UN) Stock Rated “Buy” by Wall Street Brokerages

Shares of Killam Apartment REIT (TSE:KMP.UN) have been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$20.44.

A number of equities analysts have issued reports on KMP.UN shares. TD lifted their price objective on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Scotia increased their target price on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the company a “sector outperform” rating in a report on Friday, August 7th. Finally, Raymond James Financial raised their price target on shares of Killam Apartment REIT from C$21.00 to C$21.25 and gave the company an “outperform” rating in a research report on Friday, August 7th.

Killam Apartment REIT Stock Performance

Shares of Killam Apartment REIT stock opened at C$17.30 on Friday. The company has a market cap of C$2.08 billion, a PE ratio of 257.12 and a beta of 0.78. Killam Apartment REIT has a 52 week low of C$15.65 and a 52 week high of C$19.21. The business has a 50 day moving average price of C$18.01 and a 200-day moving average price of C$17.85. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT (TSE:KMP.UN) last announced its earnings results on Wednesday, August 5th. The company reported C$0.53 earnings per share (EPS) for the quarter. The company had revenue of C$99.16 million for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%. Equities analysts anticipate that Killam Apartment REIT will post 1.2904074 earnings per share for the current fiscal year.

Killam Apartment REIT Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were paid a $0.06 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.72 annualized dividend and a yield of 4.2%. Killam Apartment REIT’s dividend payout ratio (DPR) is 1,070.11%.

About Killam Apartment REIT

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.