Scotia Issues Positive Forecast for Killam Apartment REIT (TSE:KMP.UN) Stock Price

Killam Apartment REIT (TSE:KMP.UN) had its target price increased by Scotia from C$20.00 to C$20.25 in a research note published on Friday morning,BayStreet.CA reports. The firm currently has a sector outperform rating on the stock.

A number of other brokerages also recently issued reports on KMP.UN. Royal Bank Of Canada boosted their price objective on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. National Bank Financial lifted their target price on Killam Apartment REIT from C$19.75 to C$20.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Raymond James Financial boosted their price target on Killam Apartment REIT from C$21.00 to C$21.25 and gave the company an “outperform” rating in a report on Friday. Finally, TD raised their price objective on Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$20.45.

Killam Apartment REIT Stock Performance

KMP.UN opened at C$18.87 on Friday. The company’s 50 day moving average is C$18.72 and its 200 day moving average is C$17.65. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The company has a market cap of C$2.30 billion, a price-to-earnings ratio of -96.63 and a beta of 0.79. Killam Apartment REIT has a 12-month low of C$15.65 and a 12-month high of C$19.21.

Killam Apartment REIT (TSE:KMP.UN) last announced its earnings results on Wednesday, August 5th. The company reported C$0.53 EPS for the quarter. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%. The business had revenue of C$99.16 million during the quarter. On average, equities research analysts predict that Killam Apartment REIT will post 1.2904074 EPS for the current year.

Killam Apartment REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. Killam Apartment REIT’s dividend payout ratio is -368.68%.

Killam Apartment REIT Company Profile

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada’s largest residential real estate investment trusts, owning, operating and developing a $5.4 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 which target newer properties and through the disposition of non-core assets, and 3) developing high-quality properties in its core markets.