Royal Bank of Canada Raises Killam Apartment REIT (TSE:KMP.UN) Price Target to C$24.00

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) had its target price upped by investment analysts at Royal Bank of Canada from C$23.50 to C$24.00 in a research note issued to investors on Thursday, BayStreet.CA reports. Royal Bank of Canada's price objective would suggest a potential upside of 37.93% from the stock's previous close.

Several other analysts have also commented on the stock. National Bankshares lowered their price target on shares of Killam Apartment REIT from C$22.75 to C$21.50 and set an "outperform" rating on the stock in a research report on Wednesday, April 24th. Desjardins raised their target price on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. Laurentian lowered shares of Killam Apartment REIT from a "buy" rating to a "hold" rating and set a C$20.50 target price on the stock. in a research report on Monday, January 22nd. Raymond James decreased their target price on shares of Killam Apartment REIT from C$22.75 to C$21.75 and set an "outperform" rating on the stock in a research report on Wednesday, April 24th. Finally, Scotiabank decreased their target price on shares of Killam Apartment REIT from C$21.00 to C$20.50 and set a "sector perform" rating on the stock in a research report on Monday, March 25th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Killam Apartment REIT has a consensus rating of "Moderate Buy" and an average target price of C$21.93.

Killam Apartment REIT Price Performance

Shares of KMP.UN stock traded up C$0.20 during trading hours on Thursday, hitting C$17.40. The company's stock had a trading volume of 957,564 shares, compared to its average volume of 262,130. The business has a fifty day moving average of C$18.02 and a 200-day moving average of C$18.00. The stock has a market cap of C$2.07 billion, a price-to-earnings ratio of 7.73 and a beta of 1.05. Killam Apartment REIT has a twelve month low of C$15.36 and a twelve month high of C$20.13. The company has a current ratio of 0.08, a quick ratio of 0.03 and a debt-to-equity ratio of 88.09.

About Killam Apartment REIT

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating, managing and developing a $2.8 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, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.