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

Raymond James upgraded shares of Killam Apartment REIT (TSE:KMP.UN) from an outperform rating to a strong-buy rating in a research report released on Friday morning, BayStreet.CA reports. The brokerage currently has C$24.00 price target on the stock, up from their previous price target of C$22.50.

Several other brokerages also recently weighed in on KMP.UN. Royal Bank of Canada upped their target price on Killam Apartment REIT from C$22.00 to C$23.00 in a research report on Friday, August 9th. Ventum Financial upped their price target on Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. Finally, TD Securities lifted 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. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of C$22.23.

Killam Apartment REIT Stock Up 0.2 %

Shares of Killam Apartment REIT stock opened at C$20.57 on Friday. Killam Apartment REIT has a twelve month low of C$15.36 and a twelve month high of C$20.82. The stock has a market cap of C$2.45 billion, a price-to-earnings ratio of 7.91 and a beta of 1.09. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The company has a fifty day moving average price of C$18.69 and a 200 day moving average price of C$18.17.

Killam Apartment REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th were given a $0.0583 dividend. This represents a $0.70 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Wednesday, July 31st. Killam Apartment REIT’s payout ratio is currently 26.92%.

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.