Killam Apartment REIT (TSE:KMP.UN) Price Target Raised to C$20.00

Key Points

• Scotia raised its price target on Killam Apartment REIT to C$20.00 from C$19.50 and maintained a sector outperform rating, implying about 11.9% upside from the current price.
• Several other analysts also trimmed targets but stayed bullish, and the stock now has eight Buy ratings and one Hold with a consensus Moderate Buy and average target of C$20.23.
• Shares were down 1.9% to C$17.88 in Friday trading, while the company recently reported quarterly earnings of C$0.41 per share on revenue of C$96.68 million.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) had its target price hoisted by analysts at Scotia from C$19.50 to C$20.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the stock. Scotia's price objective would indicate a potential upside of 11.86% from the stock's current price.

Other research analysts have also issued research reports about the stock. Raymond James Financial lowered their price target on shares of Killam Apartment REIT from C$20.25 to C$20.00 and set an "outperform" rating for the company in a report on Friday, February 13th. Royal Bank Of Canada reduced their price objective on shares of Killam Apartment REIT from C$22.00 to C$21.00 and set an "outperform" rating on the stock in a research note on Friday, February 13th. ATB Cormark Capital Markets decreased their price objective on shares of Killam Apartment REIT from C$21.00 to C$20.00 and set an "outperform" rating for the company in a research report on Friday, February 13th. Finally, TD Securities dropped their target price on shares of Killam Apartment REIT from C$21.00 to C$20.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$20.23.

Killam Apartment REIT Trading Down 1.9%

KMP.UN traded down C$0.35 during midday trading on Friday, hitting C$17.88. 381,142 shares of the company were exchanged, compared to its average volume of 407,658. The firm's 50 day moving average price is C$16.61 and its 200-day moving average price is C$16.84. Killam Apartment REIT has a 1-year low of C$15.65 and a 1-year high of C$19.80. The firm has a market capitalization of C$2.18 billion, a P/E ratio of 73.84 and a beta of 0.60. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.41 earnings per share for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%.The company had revenue of C$96.68 million during the quarter. As a group, equities analysts forecast that Killam Apartment REIT will post 1.2904074 EPS for the current fiscal year.

Killam Apartment REIT Company Profile

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. Apartment segment acquires, operates, manages and develops multi-family residential properties across Canada. MHC segment acquires and operates MHC communities in Ontario and Eastern Canada, and Commercial segment includes more than seven commercial properties.

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