Killam Apartment REIT (TSE:KMP.UN) Posts Earnings Results

Killam Apartment REIT (TSE:KMP.UN) released its quarterly earnings data on Wednesday. The company reported C$0.44 EPS for the quarter, FiscalAI reports. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%. The business had revenue of C$100.83 million for the quarter.

Killam Apartment REIT Stock Performance

Shares of KMP.UN stock opened at C$17.94 on Friday. The stock’s 50-day moving average is C$17.40 and its two-hundred day moving average is C$17.64. The firm has a market cap of C$2.15 billion, a price-to-earnings ratio of 266.63 and a beta of 0.66. Killam Apartment REIT has a 1 year low of C$15.65 and a 1 year high of C$19.21. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10.

Killam Apartment REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.72 annualized dividend and a dividend yield of 4.0%. Killam Apartment REIT’s dividend payout ratio (DPR) is presently 1,070.11%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on KMP.UN shares. Scotia upped their price target on Killam Apartment REIT from C$20.00 to C$20.25 and gave the company a “sector outperform” rating in a report on Friday, August 7th. Raymond James Financial raised their price objective on shares of Killam Apartment REIT from C$21.00 to C$21.25 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, TD boosted their price objective on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$20.62.

Killam Apartment REIT Company Profile

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada’s largest residential real estate investment trusts, owning, operating and developing a $5.4 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 which target newer properties and through the disposition of non-core assets, and 3) developing high-quality properties in its core markets.