Killam Apartment REIT (TSE:KMP.UN) Plans Monthly Dividend of $0.06

Killam Apartment REIT (TSE:KMP.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Investors 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 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, April 29th.

Killam Apartment REIT Price Performance

Shares of TSE KMP.UN opened at C$17.27 on Friday. Killam Apartment REIT has a 1 year low of C$15.36 and a 1 year high of C$20.13. The company has a debt-to-equity ratio of 88.09, a current ratio of 0.08 and a quick ratio of 0.03. The company’s 50-day moving average is C$18.44 and its 200 day moving average is C$18.00. The stock has a market capitalization of C$2.04 billion, a P/E ratio of 7.68 and a beta of 1.05.

Analysts Set New Price Targets

Several brokerages recently issued reports on KMP.UN. CIBC boosted their price target on shares of Killam Apartment REIT from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. National Bankshares reduced their price target on shares of Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating on the stock in a research report on Wednesday. Scotiabank reduced their price target on shares of 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 shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Laurentian cut shares of Killam Apartment REIT from a “buy” rating to a “hold” rating and set a C$20.50 price objective on the stock. in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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.