Killam Apartment REIT (TSE:KMP.UN) Upgraded to Strong-Buy by Raymond James

Killam Apartment REIT (TSE:KMP.UN) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a C$24.00 price target on the stock, up from their prior price target of C$22.50. Raymond James’ price target indicates a potential upside of 16.73% from the stock’s current price.

KMP.UN has been the topic of a number of other reports. Ventum Financial raised their price objective on Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. TD Securities raised their price target on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada raised their price target on Killam Apartment REIT from C$22.00 to C$23.00 in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$22.23.

Killam Apartment REIT Price Performance

Shares of TSE KMP.UN traded up C$0.04 during trading hours on Friday, reaching C$20.56. 356,538 shares of the stock traded hands, compared to its average volume of 245,192. The company has a market capitalization of C$2.45 billion, a P/E ratio of 7.88 and a beta of 1.09. The company has a quick ratio of 0.03, a current ratio of 0.11 and a debt-to-equity ratio of 82.05. Killam Apartment REIT has a 52-week low of C$15.36 and a 52-week high of C$20.82. The company’s 50-day simple moving average is C$18.62 and its two-hundred day simple moving average is C$18.16.

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.