Killam Apartment REIT (TSE:KMP.UN) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Analysts remain bullish on Killam Apartment REIT, with all seven covering analysts assigning a “Buy” rating and an average 12-month price target of C$20.44.
• Several major brokerages recently raised their targets, including RBC and TD to C$22.00, while National Bank, Scotia, and Raymond James also increased their estimates.
• The stock opened at C$17.93, while Killam reported C$0.53 in quarterly EPS on C$99.16 million in revenue and paid a monthly C$0.06 dividend, representing an approximately 4.0% annualized yield.

Shares of Killam Apartment REIT (TSE:KMP.UN - Get Free Report) have received a consensus recommendation of "Buy" from the seven analysts that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$20.44.

KMP.UN has been the subject of several recent analyst reports. National Bank Financial upped their target price on shares of Killam Apartment REIT from C$19.75 to C$20.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. TD boosted 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. Scotia upped their price objective on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the company a "sector outperform" rating in a research report on Friday, August 7th. Finally, Raymond James Financial raised their price objective on Killam Apartment REIT from C$21.00 to C$21.25 and gave the stock an "outperform" rating in a research note on Friday, August 7th.

Killam Apartment REIT Stock Down 2.0%

Shares of Killam Apartment REIT stock opened at C$17.93 on Tuesday. 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 has a 12 month low of C$15.65 and a 12 month high of C$19.21. The business has a fifty day simple moving average of C$18.68 and a 200 day simple moving average of C$17.76. The stock has a market cap of C$2.15 billion, a PE ratio of 266.50 and a beta of 0.79.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported C$0.53 earnings per share for the quarter. The firm 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%. Research analysts predict that Killam Apartment REIT will post 1.2904074 EPS for the current year.

Killam Apartment REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were given a $0.06 dividend. The ex-dividend date was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.0%. Killam Apartment REIT's payout ratio is currently 1,070.15%.

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.

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