Killam Apartment REIT to Issue Monthly Dividend of $0.06 (TSE:KMP.UN)

Killam Apartment REIT (TSE:KMP.UN) declared a monthly dividend on Friday, September 27th, TickerTech reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 0.0583 per share on Tuesday, October 15th. This represents a $0.70 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Friday, September 27th.

Killam Apartment REIT Price Performance

TSE:KMP.UN traded up C$0.09 during mid-day trading on Wednesday, reaching C$21.22. 12,424 shares of the company were exchanged, compared to its average volume of 250,006. The company has a fifty day moving average of C$19.58 and a 200 day moving average of C$18.30. Killam Apartment REIT has a 12 month low of C$15.36 and a 12 month high of C$21.72. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05. The stock has a market cap of C$2.53 billion, a PE ratio of 8.13 and a beta of 1.09.

Analyst Ratings Changes

A number of research firms recently commented on KMP.UN. Raymond James upgraded Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from C$22.50 to C$24.00 in a report on Friday, September 6th. Royal Bank of Canada increased their price target on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a research note on Friday, August 9th. Ventum Financial boosted their price objective on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research note on Friday, August 9th. Finally, TD Securities raised their target price 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. Two 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$22.23.

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.