Royal Bank of Canada Cuts Killam Apartment REIT (TSE:KMP.UN) Price Target to C$23.50

Killam Apartment REIT (TSE:KMP.UN) had its price objective cut by Royal Bank of Canada from C$24.50 to C$23.50 in a report issued on Friday,BayStreet.CA reports.

KMP.UN has been the subject of several other research reports. National Bankshares lifted their price objective on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. Ventum Financial lifted their price objective on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research note on Friday, August 9th. Raymond James raised shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from C$22.50 to C$24.00 in a research note on Friday, September 6th. Finally, TD Securities lifted their price objective 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 Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$22.50.

Killam Apartment REIT Trading Down 0.1 %

Killam Apartment REIT stock opened at C$18.40 on Friday. The company’s fifty day simple moving average is C$20.07 and its 200-day simple moving average is C$18.64. 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 has a 12 month low of C$16.62 and a 12 month high of C$21.72. The stock has a market cap of C$2.19 billion, a P/E ratio of 7.08 and a beta of 1.10.

Killam Apartment REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be given a dividend of $0.0583 per share. This represents a $0.70 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Thursday, October 31st. Killam Apartment REIT’s dividend payout ratio is 26.92%.

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.