Royal Bank Of Canada Cuts Killam Apartment REIT (TSE:KMP.UN) Price Target to C$21.00

Killam Apartment REIT (TSE:KMP.UN) had its price target reduced by equities researchers at Royal Bank Of Canada from C$22.00 to C$21.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 25.00% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Killam Apartment REIT from C$20.00 to C$19.00 in a research report on Thursday, November 6th. BMO Capital Markets reduced their target price on Killam Apartment REIT from C$20.00 to C$19.50 in a research note on Wednesday, November 12th. Finally, TD Securities decreased their price objective on Killam Apartment REIT from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Friday, December 12th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Killam Apartment REIT has a consensus rating of “Moderate Buy” and a consensus target price of C$20.00.

Killam Apartment REIT Price Performance

Shares of Killam Apartment REIT stock traded down C$0.22 during trading on Friday, hitting C$16.80. The stock had a trading volume of 471,287 shares, compared to its average volume of 384,119. The firm has a market cap of C$2.04 billion, a price-to-earnings ratio of 3.74 and a beta of 0.75. Killam Apartment REIT has a 12 month low of C$15.48 and a 12 month high of C$19.80. The business’s 50-day moving average is C$17.00 and its 200 day moving average is C$17.36. 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 (TSE:KMP.UN) last posted its earnings results on Friday, February 13th. The company reported C($1.17) EPS for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%.The business had revenue of C$96.26 million for the quarter. As a group, sell-side analysts anticipate that Killam Apartment REIT will post 1.2904074 earnings per share for the current year.

About Killam Apartment REIT

Killam Apartment Real Estate Investment Trust is an open-ended mutual fund trust. The company specializes in the acquisition, management, and development of multi-residential apartment buildings and manufactured home communities (MHC). It has three main operating segments, Apartment segment, MHC segment, and Commercial segments. Apartment segment acquires, operates, manages and develops multi-family residential properties across Canada. MHC segment acquires and operates MHC communities in Ontario and Eastern Canada, and Commercial segment includes more than seven commercial properties.