Killam Apartment REIT (TSE:KMP.UN) Price Target Cut to C$21.50 by Analysts at Raymond James

Killam Apartment REIT (TSE:KMP.UN) had its target price trimmed by Raymond James from C$22.25 to C$21.50 in a research note published on Friday morning,BayStreet.CA reports.

Separately, Royal Bank of Canada decreased their price objective on Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$22.50.

Killam Apartment REIT Trading Down 3.1 %

Shares of Killam Apartment REIT stock opened at C$16.16 on Friday. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The business has a fifty day simple moving average of C$16.99 and a two-hundred day simple moving average of C$18.60. Killam Apartment REIT has a 1 year low of C$15.83 and a 1 year high of C$21.72. The company has a market capitalization of C$1.92 billion, a price-to-earnings ratio of 6.22 and a beta of 1.10.

Killam Apartment REIT Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.46%. This is a boost from Killam Apartment REIT’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Friday, January 31st. Killam Apartment REIT’s dividend payout ratio 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.