Scotiabank Trims Killam Apartment REIT (TSE:KMP.UN) Target Price to C$20.50

Killam Apartment REIT (TSE:KMP.UN) had its price objective lowered by Scotiabank from C$21.00 to C$20.50 in a report issued on Monday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada upped their target price on shares of Killam Apartment REIT from C$23.00 to C$23.50 and gave the stock an outperform rating in a report on Friday, February 16th. Canaccord Genuity Group lifted their target price on Killam Apartment REIT from C$20.00 to C$22.00 and gave the company a buy rating in a research report on Wednesday, December 20th. Raymond James increased their price target on Killam Apartment REIT from C$22.00 to C$22.75 and gave the company an outperform rating in a research report on Tuesday, February 20th. BMO Capital Markets lifted their price objective on shares of Killam Apartment REIT from C$20.50 to C$22.00 and gave the stock an outperform rating in a report on Tuesday, February 20th. Finally, TD Securities increased their target price on shares of Killam Apartment REIT from C$21.00 to C$23.00 and gave the company a buy rating in a report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Killam Apartment REIT presently has a consensus rating of Moderate Buy and an average price target of C$22.20.

Killam Apartment REIT Price Performance

Shares of TSE:KMP.UN opened at C$18.60 on Monday. Killam Apartment REIT has a twelve month low of C$15.36 and a twelve month high of C$20.13. The stock’s 50 day moving average is C$19.10 and its 200-day moving average is C$18.05. The company has a quick ratio of 0.03, a current ratio of 0.08 and a debt-to-equity ratio of 88.09. The firm has a market capitalization of C$2.20 billion, a price-to-earnings ratio of 8.27 and a beta of 1.05.

Killam Apartment REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 15th were given a $0.0583 dividend. This represents a $0.70 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Tuesday, January 30th. Killam Apartment REIT’s dividend payout ratio is 31.11%.

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.