Killam Apartment REIT (TSE:KMP.UN – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$21.93.
Several equities research analysts have weighed in on KMP.UN shares. Raymond James dropped their target price 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, April 24th. TD Securities lowered their price target on Killam Apartment REIT from C$23.00 to C$22.00 in a report on Wednesday, April 24th. Royal Bank of Canada raised their price target on Killam Apartment REIT from C$23.50 to C$24.00 in a report on Thursday, May 9th. National Bankshares lowered their price target on Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Finally, Scotiabank lowered their price target on Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating on the stock in a report on Monday, March 25th.
Get Our Latest Analysis on Killam Apartment REIT
Killam Apartment REIT Price Performance
Killam Apartment REIT Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.0583 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.70 annualized dividend and a yield of 4.11%. Killam Apartment REIT’s dividend payout ratio is currently 26.82%.
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.
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