Killam Apartment REIT (TSE:KMP.UN) Sets New 1-Year Low – Here’s Why

Killam Apartment REIT (TSE:KMP.UN) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as C$16.59 and last traded at C$16.59, with a volume of 55355 shares traded. The stock had previously closed at C$16.72.

Wall Street Analyst Weigh In

Several research firms have weighed in on KMP.UN. Raymond James lowered their price target on Killam Apartment REIT from C$23.50 to C$22.25 in a research report on Monday, January 13th. National Bankshares boosted their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Finally, Royal Bank of Canada cut their price target on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$22.58.

Killam Apartment REIT Price Performance

The company’s 50-day moving average is C$17.47 and its 200-day moving average is C$18.73. The firm has a market cap of C$1.98 billion, a price-to-earnings ratio of 6.39 and a beta of 1.10. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.06 per share. This is an increase from Killam Apartment REIT’s previous monthly dividend of $0.06. The ex-dividend date is Friday, January 31st. This represents a $0.72 annualized dividend and a yield of 4.33%. Killam Apartment REIT’s payout ratio is presently 26.92%.

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.