Killam Apartment REIT (TSE:KMP.UN) to Issue Dividend Increase – $0.06 Per Share

Killam Apartment REIT (TSE:KMP.UN) declared a monthly dividend on Friday, January 31st,TickerTech Dividends reports. Stockholders of record on Tuesday, February 18th will be paid a dividend of 0.06 per share on Tuesday, February 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Friday, January 31st. This is a boost from Killam Apartment REIT’s previous monthly dividend of $0.06.

Killam Apartment REIT Price Performance

Shares of KMP.UN opened at C$16.75 on Wednesday. The business’s fifty day moving average price is C$17.41 and its two-hundred day moving average price is C$18.72. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10. The firm has a market capitalization of C$1.99 billion, a price-to-earnings ratio of 6.44 and a beta of 1.10. Killam Apartment REIT has a 52 week low of C$16.44 and a 52 week high of C$21.72.

Wall Street Analyst Weigh In

A number of analysts have commented on KMP.UN shares. Royal Bank of Canada lowered their target price on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th. National Bankshares upped their price objective on Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Finally, Raymond James reduced their target price on Killam Apartment REIT from C$23.50 to C$22.25 in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Killam Apartment REIT currently has a consensus rating of “Buy” and a consensus price target of C$22.58.

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.