TD Issues Positive Forecast for Killam Apartment REIT (TSE:KMP.UN) Stock Price

Key Points

• TD raised its price target for Killam Apartment REIT from C$21.00 to C$22.00 and maintained a “buy” rating, implying 16.59% upside from the reported C$18.87 share price.
• Analyst sentiment remains positive: eight analysts rate the stock a buy, with a consensus rating of “Buy” and an average price target of C$20.45.
• Killam reported quarterly EPS of C$0.53 on revenue of C$99.16 million. The REIT owns and operates a C$5.4 billion portfolio of apartments and manufactured home communities across Canada.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) had its price objective hoisted by equities researchers at TD from C$21.00 to C$22.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD's price objective suggests a potential upside of 16.59% from the company's current price.

Several other analysts also recently issued reports on KMP.UN. Royal Bank Of Canada raised their price target on Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. National Bank Financial upped their price objective 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. Scotia raised their target price 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. Finally, Raymond James Financial boosted their price target on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the company an "outperform" rating in a report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$20.45.

Killam Apartment REIT Stock Performance

Shares of TSE KMP.UN traded up C$0.18 during midday trading on Friday, hitting C$18.87. The company's stock had a trading volume of 197,245 shares, compared to its average volume of 375,846. 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 1-year low of C$15.65 and a 1-year high of C$19.21. The firm's fifty day moving average price is C$18.71 and its 200-day moving average price is C$17.64. The firm 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 issued its earnings results on Wednesday, August 5th. The company reported C$0.53 earnings per share (EPS) for the quarter. The firm had revenue of C$99.16 million for the quarter. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%. On average, sell-side analysts forecast that Killam Apartment REIT will post 1.2904074 EPS for the current fiscal 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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