Shares of Killam Apartment REIT (TSE:KMP.UN – Get Free Report) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$22.20.
KMP.UN has been the subject of a number of analyst reports. Laurentian downgraded shares of Killam Apartment REIT from a “buy” rating to a “hold” rating and set a C$20.50 target price for the company. in a research report on Monday, January 22nd. BMO Capital Markets raised their target price on shares of Killam Apartment REIT from C$20.50 to C$22.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Royal Bank of Canada raised their target price on shares of Killam Apartment REIT from C$23.00 to C$23.50 and gave the company an “outperform” rating in a research report on Friday, February 16th. Canaccord Genuity Group raised their target price on shares of 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. Finally, National Bankshares raised their target price on shares of Killam Apartment REIT from C$22.00 to C$22.75 and gave the company an “outperform” rating in a research report on Friday, February 16th.
Read Our Latest Stock Analysis on KMP.UN
Killam Apartment REIT Trading Down 1.6 %
Killam Apartment REIT Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.0583 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Monday, April 29th. Killam Apartment REIT’s dividend payout ratio is presently 31.11%.
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.
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