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

Key Points

• TD Securities has raised the price target for Killam Apartment REIT from C$21.00 to C$22.00, indicating a potential upside of 24.01% from the company's previous close.
• Killam Apartment REIT's stock recently traded down 1.0% to C$17.74, with a market cap of C$2.11 billion and a price-to-earnings ratio of 6.82.
• Other analysts, including BMO Capital Markets and Canaccord Genuity Group, have also adjusted their ratings and price targets for the stock in recent weeks.

Killam Apartment REIT (TSE:KMP.UN - Free Report) had its target price raised by TD Securities from C$21.00 to C$22.00 in a research note published on Friday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on KMP.UN. Canaccord Genuity Group lowered Killam Apartment REIT from a "buy" rating to a "hold" rating and raised their target price for the stock from C$19.25 to C$20.00 in a research note on Friday, August 1st. BMO Capital Markets raised their target price on Killam Apartment REIT from C$19.50 to C$20.00 in a research note on Monday, May 12th.

Killam Apartment REIT Stock Down 0.2%

Shares of KMP.UN traded down C$0.04 during midday trading on Friday, hitting C$17.54. 61,067 shares of the company's stock traded hands, compared to its average volume of 328,268. Killam Apartment REIT has a 1 year low of C$15.48 and a 1 year high of C$21.72. The firm's fifty day moving average is C$19.09 and its 200-day moving average is C$17.80. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The stock has a market capitalization of C$2.09 billion, a price-to-earnings ratio of 6.75 and a beta of 1.10.

Killam Apartment REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 15th will be paid a $0.06 dividend. The ex-dividend date is Thursday, July 31st. This represents a c) dividend on an annualized basis and a yield of 4.1%. Killam Apartment REIT's dividend payout ratio (DPR) is 26.92%.

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.