Killam Apartment REIT (TSE:KMP.UN) Price Target Raised to C$21.25

Key Points

• Raymond James raised Killam Apartment REIT’s price target to C$21.25 from C$21.00 while maintaining an “outperform” rating, implying 12.61% upside from the prior close.
• Several other brokerages also increased their targets, with RBC and TD reaching C$22.00. The REIT has a consensus “Buy” rating and an average price target of C$20.45.
• Killam shares rose 1.0% to C$18.87, near their one-year high of C$19.21; the company recently reported quarterly revenue of C$99.16 million and EPS of C$0.53.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) had its price target raised by Raymond James Financial from C$21.00 to C$21.25 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's target price suggests a potential upside of 12.61% from the stock's previous close.

A number of other brokerages also recently issued reports on KMP.UN. Royal Bank Of Canada boosted their price objective on Killam Apartment REIT from C$21.00 to C$22.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. National Bank Financial raised their target price on Killam Apartment REIT from C$19.75 to C$20.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. TD lifted their target price on Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a "buy" rating in a report on Friday. Finally, Scotia boosted their price target on Killam Apartment REIT from C$19.50 to C$20.00 and gave the company a "sector outperform" rating in a research note on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of C$20.45.

Killam Apartment REIT Trading Up 1.0%

TSE KMP.UN traded up C$0.18 during mid-day trading on Friday, reaching C$18.87. 197,245 shares of the stock were exchanged, compared to its average volume of 375,846. The stock has a market cap of C$2.30 billion, a P/E ratio of -96.63 and a beta of 0.79. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. Killam Apartment REIT has a one year low of C$15.65 and a one year high of C$19.21. The stock has a 50 day simple moving average of C$18.71 and a 200-day simple moving average of C$17.64.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$0.53 EPS for the quarter. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%. The business had revenue of C$99.16 million for the quarter. On average, analysts anticipate that Killam Apartment REIT will post 1.2904074 EPS for the current year.

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.

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