Scotia Forecasts Strong Price Appreciation for Killam Apartment REIT (TSE:KMP.UN) Stock

Key Points

• Scotia raised Killam Apartment REIT’s price target to C$20.25 from C$20.00 and maintained a “sector outperform” rating, implying 7.31% upside from the previous close.
• Analyst sentiment is broadly positive: eight analysts rate the stock a Buy, with a consensus target of C$20.45. TD and RBC set the highest reported targets at C$22.00.
• Killam shares closed at C$18.87, near their 12-month high of C$19.21, after the REIT reported quarterly EPS of C$0.53 and revenue of C$99.16 million.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) had its target price upped by stock analysts at Scotia from C$20.00 to C$20.25 in a report released on Friday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the stock. Scotia's price target points to a potential upside of 7.31% from the stock's previous close.

KMP.UN has been the topic of a number of other research reports. TD lifted 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 research note on Friday. Royal Bank Of Canada lifted their target price on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Raymond James Financial boosted their target price on shares of Killam Apartment REIT from C$21.00 to C$21.25 and gave the stock an "outperform" rating in a research note on Friday. Finally, National Bank Financial raised their price target 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. Eight equities 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 target price of C$20.45.

Killam Apartment REIT Stock Performance

KMP.UN traded up C$0.18 on Friday, reaching C$18.87. The stock had a trading volume of 197,245 shares, compared to its average volume of 375,846. The business's 50-day moving average price is C$18.71 and its two-hundred day moving average price is C$17.64. The company has a current ratio of 0.10, a quick ratio of 0.03 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 company has a market cap of C$2.30 billion, a P/E ratio of -96.63 and a beta of 0.79.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) last announced its quarterly 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 during the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%. Sell-side analysts forecast that Killam Apartment REIT will post 1.2904074 earnings per share for the current year.

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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