Killam Apartment REIT (TSE:KMP.UN) Given New C$23.50 Price Target at Royal Bank of Canada

Killam Apartment REIT (TSE:KMP.UN) had its price objective lowered by analysts at Royal Bank of Canada from C$24.50 to C$23.50 in a note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s target price points to a potential upside of 26.82% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. National Bankshares raised their target price on Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. Raymond James upgraded shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from C$22.50 to C$24.00 in a report on Friday, September 6th. Ventum Financial upped their target price on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. Finally, TD Securities lifted their price target on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$22.50.

Killam Apartment REIT Trading Up 0.6 %

Shares of Killam Apartment REIT stock traded up C$0.11 during mid-day trading on Friday, hitting C$18.53. The stock had a trading volume of 131,739 shares, compared to its average volume of 254,413. The firm has a 50-day moving average of C$20.10 and a two-hundred day moving average of C$18.63. The firm has a market cap of C$2.21 billion, a P/E ratio of 7.10 and a beta of 1.10. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05. Killam Apartment REIT has a 12-month low of C$16.62 and a 12-month high of C$21.72.

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.