Killam Apartment REIT (KMP.UN) to Issue Monthly Dividend of $0.06 on May 15th

Killam Apartment REIT (TSE:KMP.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.0583 per share on Wednesday, May 15th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Monday, April 29th.

Killam Apartment REIT Stock Performance

Shares of KMP.UN traded up C$0.05 during mid-day trading on Friday, reaching C$17.27. 75,588 shares of the company’s stock were exchanged, compared to its average volume of 230,762. The company has a debt-to-equity ratio of 88.09, a current ratio of 0.08 and a quick ratio of 0.03. The stock has a market capitalization of C$2.04 billion, a PE ratio of 7.68 and a beta of 1.05. The business’s fifty day simple moving average is C$18.44 and its 200-day simple moving average is C$18.00. Killam Apartment REIT has a 52-week low of C$15.36 and a 52-week high of C$20.13.

Wall Street Analysts Forecast Growth

KMP.UN has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of Killam Apartment REIT from C$20.50 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. National Bankshares decreased their price target on Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating for the company in a report on Wednesday. Desjardins increased their price target on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Scotiabank reduced their target price on Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating for the company in a report on Monday, March 25th. Finally, Laurentian downgraded Killam Apartment REIT from a “buy” rating to a “hold” rating and set a C$20.50 target price for the company. in a report on Monday, January 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.88.

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.