Killam Apartment REIT (TSE:KMP.UN) Price Target Cut to C$21.75

Killam Apartment REIT (TSE:KMP.UN - Free Report) had its target price lowered by Raymond James from C$22.75 to C$21.75 in a research note published on Wednesday, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. TD Securities lifted their price objective on shares of Killam Apartment REIT from C$21.00 to C$23.00 and gave the company a buy rating in a research note on Friday, February 16th. Royal Bank of Canada upped their price target on shares of Killam Apartment REIT from C$23.00 to C$23.50 and gave the company an outperform rating in a report on Friday, February 16th. BMO Capital Markets lifted their price objective on Killam Apartment REIT from C$20.50 to C$22.00 and gave the company an outperform rating in a research note on Tuesday, February 20th. National Bankshares lifted their target price on shares of Killam Apartment REIT from C$22.00 to C$22.75 and gave the company an outperform rating in a report on Friday, February 16th. Finally, Desjardins boosted their target price on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a buy rating in a research note on Friday, February 16th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of C$21.88.

Killam Apartment REIT Stock Performance

Killam Apartment REIT stock traded down C$0.14 during trading hours on Wednesday, hitting C$17.28. 153,429 shares of the stock traded hands, compared to its average volume of 233,971. The company has a debt-to-equity ratio of 88.09, a current ratio of 0.08 and a quick ratio of 0.03. Killam Apartment REIT has a 1 year low of C$15.36 and a 1 year high of C$20.13. The stock has a market capitalization of C$2.04 billion, a price-to-earnings ratio of 7.71 and a beta of 1.05. The firm's 50 day moving average price is C$18.58 and its 200-day moving average price is C$18.00.

Killam Apartment REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.0583 per share. This represents a $0.70 annualized dividend and a yield of 4.05%. The ex-dividend date is Monday, April 29th. Killam Apartment REIT's payout ratio is 31.11%.

Killam Apartment REIT Company Profile

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.