Killam Apartment REIT (TSE:KMP.UN) Price Target Lowered to C$20.50 at Scotiabank

Key Points

• Scotiabank has reduced its price target for Killam Apartment REIT from C$20.75 to C$20.50, while maintaining an "outperform" rating for the stock, indicating a potential upside of 14.78% from the previous close.
• TD Securities and BMO Capital Markets have increased their price targets for Killam Apartment REIT, with TD now at C$22.00 and BMO at C$20.00, reflecting positive sentiments in the market.
• The current trading price of Killam Apartment REIT is C$17.86, with a debt-to-equity ratio of 82.05 and a market capitalization of C$2.13 billion.

Killam Apartment REIT (TSE:KMP.UN - Free Report) had its price target lowered by Scotiabank from C$20.75 to C$20.50 in a research note published on Tuesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

KMP.UN has been the topic of a number of other reports. Canaccord Genuity Group lowered shares of Killam Apartment REIT from a "buy" rating to a "hold" rating and raised their price target for the stock from C$19.25 to C$20.00 in a research report on Friday, August 1st. BMO Capital Markets raised their price target on shares of Killam Apartment REIT from C$19.50 to C$20.00 in a research report on Monday, May 12th. Finally, TD Securities raised their price target on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a "buy" rating in a research report on Friday, August 8th.

Killam Apartment REIT Stock Performance

Shares of KMP.UN traded up C$0.03 during trading hours on Tuesday, hitting C$17.64. The company had a trading volume of 308,672 shares, compared to its average volume of 330,583. The firm has a market cap of C$2.10 billion, a price-to-earnings ratio of 6.78 and a beta of 1.10. The business has a fifty day moving average of C$18.95 and a 200-day moving average of C$17.81. Killam Apartment REIT has a 12 month low of C$15.48 and a 12 month high of C$21.72. 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 Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 15th were paid a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Thursday, July 31st. Killam Apartment REIT's dividend payout ratio is presently 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.