Killam Apartment REIT (TSE:KMP.UN) Price Target Raised to C$24.00 at National Bankshares

Killam Apartment REIT (TSE:KMP.UN) had its target price raised by equities researchers at National Bankshares from C$22.75 to C$24.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. National Bankshares’ price objective suggests a potential upside of 22.20% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. TD Securities increased their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Royal Bank of Canada increased their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a research note on Friday, August 9th. Raymond James upgraded shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from C$22.50 to C$24.00 in a research note on Friday, September 6th. Finally, Ventum Financial raised their target price on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$22.45.

Killam Apartment REIT Price Performance

Shares of KMP.UN stock opened at C$19.64 on Wednesday. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The company’s 50-day simple moving average is C$19.99 and its two-hundred day simple moving average is C$18.42. Killam Apartment REIT has a one year low of C$15.36 and a one year high of C$21.72. The company has a market capitalization of C$2.34 billion, a P/E ratio of 7.55 and a beta of 1.09.

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.