Killam Apartment REIT (TSE:KMP.UN) Price Target Raised to C$22.00

Key Points

• Royal Bank of Canada raised its price target on Killam Apartment REIT to C$22.00 from C$21.00 and maintained an outperform rating, implying about 23% upside from the prior close.
• Analyst views remain broadly positive overall, with eight Buy ratings and one Hold rating; the consensus target price is C$20.23.
• The stock traded down 1.9% to C$17.88, while the company recently reported C$0.41 EPS for the quarter on C$96.68 million in revenue.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) had its price objective upped by research analysts at Royal Bank Of Canada from C$21.00 to C$22.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 23.04% from the stock's previous close.

A number of other equities analysts have also recently issued reports on KMP.UN. ATB Cormark Capital Markets cut their price objective on shares of Killam Apartment REIT from C$21.00 to C$20.00 and set an "outperform" rating on the stock in a research report on Friday, February 13th. Scotia raised their price objective 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. TD Securities decreased their price objective on Killam Apartment REIT from C$21.00 to C$20.00 and set a "buy" rating for the company in a report on Friday, February 13th. National Bank Financial upped 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 report on Friday. Finally, Raymond James Financial lowered their price objective on shares of Killam Apartment REIT from C$20.25 to C$20.00 and set an "outperform" rating on the stock in a report on Friday, February 13th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$20.23.

Killam Apartment REIT Trading Down 1.9%

Shares of TSE KMP.UN traded down C$0.35 during midday trading on Friday, reaching C$17.88. The stock had a trading volume of 381,142 shares, compared to its average volume of 407,658. The company's 50 day moving average price is C$16.61 and its 200 day moving average price is C$16.84. 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 twelve month low of C$15.65 and a twelve month high of C$19.80. The firm has a market cap of C$2.18 billion, a price-to-earnings ratio of 73.84 and a beta of 0.60.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$0.41 earnings per share for the quarter. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%. The company had revenue of C$96.68 million during the quarter. As a group, sell-side analysts expect that Killam Apartment REIT will post 1.2904074 EPS for the current year.

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. 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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