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

Killam Apartment REIT (TSE:KMP.UN) announced its quarterly earnings data on Wednesday. The company reported C$0.53 earnings per share for the quarter, 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$99.16 million for the quarter.

Killam Apartment REIT Price Performance

TSE:KMP.UN opened at C$18.55 on Thursday. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05. Killam Apartment REIT has a 52 week low of C$15.65 and a 52 week high of C$19.21. The stock’s 50-day moving average price is C$18.71 and its 200-day moving average price is C$17.63. The stock has a market capitalization of C$2.27 billion, a PE ratio of -94.99 and a beta of 0.79.

Killam Apartment REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, July 31st. Killam Apartment REIT’s dividend payout ratio is presently -368.68%.

Analyst Upgrades and Downgrades

KMP.UN has been the subject of a number of research reports. TD boosted their target price on shares of Killam Apartment REIT from C$20.00 to C$21.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Scotia lifted their price target on Killam Apartment REIT from C$19.50 to C$20.00 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Royal Bank Of Canada boosted their price target on Killam Apartment REIT from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Friday, May 8th. National Bank Financial boosted their price target on Killam Apartment REIT from C$19.75 to C$20.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Raymond James Financial raised their price objective on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$20.23.

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.