Killam Apartment REIT (TSE:KMP.UN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Killam Apartment REIT (TSE:KMP.UN) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$22.55.

A number of brokerages have weighed in on KMP.UN. Royal Bank of Canada decreased their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. National Bankshares lifted their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th.

Killam Apartment REIT Price Performance

Shares of KMP.UN stock opened at C$16.79 on Friday. Killam Apartment REIT has a 52-week low of C$16.62 and a 52-week high of C$21.72. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10. The firm has a market capitalization of C$2.00 billion, a P/E ratio of 6.46 and a beta of 1.10. The stock has a 50 day moving average price of C$17.80 and a 200 day moving average price of C$18.75.

Killam Apartment REIT Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were given a $0.0583 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.70 annualized dividend and a dividend yield of 4.17%. Killam Apartment REIT’s dividend payout ratio (DPR) is presently 26.92%.

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.