Killam Apartment REIT (TSE:KMP.UN) to Issue $0.06 Monthly Dividend

Killam Apartment REIT (TSE:KMP.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.0583 per share on Wednesday, May 15th. This represents a $0.70 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Monday, April 29th.

Killam Apartment REIT Trading Up 0.3 %

TSE KMP.UN traded up C$0.05 on Friday, reaching C$17.27. The stock had a trading volume of 75,588 shares, compared to its average volume of 230,762. The firm has a market capitalization of C$2.04 billion, a price-to-earnings ratio of 7.68 and a beta of 1.05. The company has a quick ratio of 0.03, a current ratio of 0.08 and a debt-to-equity ratio of 88.09. Killam Apartment REIT has a 12-month low of C$15.36 and a 12-month high of C$20.13. The stock has a fifty day moving average price of C$18.44 and a two-hundred day moving average price of C$18.00.

Analyst Ratings Changes

A number of analysts have issued reports on KMP.UN shares. Scotiabank cut their target price on Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating on the stock in a research report on Monday, March 25th. Desjardins upped their price objective on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Raymond James cut their price objective on Killam Apartment REIT from C$22.75 to C$21.75 and set an “outperform” rating on the stock in a research report on Wednesday. CIBC boosted their target price on shares of Killam Apartment REIT from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, Royal Bank of Canada boosted 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 research note on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Killam Apartment REIT presently has an average rating of “Moderate Buy” and an average price target of C$21.88.

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.