Killam Apartment REIT (TSE:KMP.UN) Sets New 12-Month Low – Here’s What Happened

Killam Apartment REIT (TSE:KMP.UN)’s share price reached a new 52-week low on Tuesday . The stock traded as low as C$15.83 and last traded at C$16.29, with a volume of 511465 shares changing hands. The stock had previously closed at C$16.53.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports 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 lifted 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, Raymond James lowered their target price on shares of 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$22.58.

Killam Apartment REIT Stock Performance

The company has a market capitalization of C$2.01 billion, a PE ratio of 6.51 and a beta of 1.10. The business’s fifty day moving average is C$17.21 and its two-hundred day moving average is C$18.67. 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 company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be issued a $0.06 dividend. This is a positive change from Killam Apartment REIT’s previous monthly dividend of $0.06. This represents a $0.72 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Friday, January 31st. 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.