Killam Apartment REIT (TSE:KMP.UN – Free Report) had its target price decreased by TD Securities from C$23.00 to C$22.00 in a research report report published on Wednesday morning, BayStreet.CA reports.
A number of other brokerages have also weighed in on KMP.UN. National Bankshares raised their price target on shares of Killam Apartment REIT from C$22.00 to C$22.75 and gave the company an outperform rating in a research note on Friday, February 16th. Scotiabank decreased their price target 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 note on Monday, March 25th. Royal Bank of Canada raised 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 research note on Friday, February 16th. BMO Capital Markets raised their target price on shares of Killam Apartment REIT from C$20.50 to C$22.00 and gave the stock an outperform rating in a research note on Tuesday, February 20th. Finally, CIBC raised their target price on shares of Killam Apartment REIT from C$20.00 to C$22.00 and gave the stock an outperform rating in a research note on Friday, February 16th. Two investment 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 presently has an average rating of Moderate Buy and a consensus target price of C$21.88.
Read Our Latest Stock Report on KMP.UN
Killam Apartment REIT Trading Down 0.8 %
Killam Apartment REIT Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.0583 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, April 29th. Killam Apartment REIT’s payout ratio is presently 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.
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