Canaccord Genuity Group Downgrades Killam Apartment REIT (TSE:KMP.UN) to Hold

Key Points

• Canaccord Genuity Group downgraded Killam Apartment REIT from a "buy" to a "hold" rating, raising their price target to C$20.00, indicating a potential upside of 9.83%.
• BMO Capital Markets also increased their price target for the REIT to C$20.00, reflecting positive sentiment despite the downgrade by Canaccord Genuity.
• The stock recently traded at C$18.21, with a notable debt-to-equity ratio of 82.05 and market capitalization of C$2.17 billion.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) was downgraded by equities research analysts at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a note issued to investors on Friday,BayStreet.CA reports. They presently have a C$20.00 price target on the stock, up from their prior price target of C$19.25. Canaccord Genuity Group's target price would indicate a potential upside of 9.83% from the stock's previous close.

Separately, BMO Capital Markets increased their price target on Killam Apartment REIT from C$19.50 to C$20.00 in a report on Monday, May 12th.

Killam Apartment REIT Price Performance

Shares of KMP.UN stock traded down C$0.11 during trading on Friday, hitting C$18.21. The company had a trading volume of 140,838 shares, compared to its average volume of 325,599. The stock's 50-day moving average price is C$19.24 and its 200 day moving average price is C$17.72. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10. Killam Apartment REIT has a one year low of C$15.48 and a one year high of C$21.72. The firm has a market capitalization of C$2.17 billion, a P/E ratio of 7.00 and a beta of 1.10.

About Killam Apartment REIT

Killam Apartment Real Estate Investment Trust is an open-ended mutual fund trust. The company specializes in the acquisition, management, and development of multi-residential apartment buildings and manufactured home communities (MHC). It has three main operating segments, Apartment segment, MHC segment, and Commercial segments.

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