Killam Apartment REIT (TSE:KMP.UN) Stock Price Expected to Rise, Scotia Analyst Says

Killam Apartment REIT (TSE:KMP.UN) had its target price increased by research analysts at Scotia from C$20.00 to C$20.25 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the stock. Scotia’s target price indicates a potential upside of 7.31% from the company’s current price.

Several other research analysts have also commented on the company. Royal Bank Of Canada lifted their price target on Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. TD raised 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. Raymond James Financial lifted their target price on shares of Killam Apartment REIT from C$21.00 to C$21.25 and gave the stock an “outperform” rating in a research note on Friday. Finally, National Bank Financial boosted their target price on shares of 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. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$20.45.

Killam Apartment REIT Price Performance

Shares of Killam Apartment REIT stock traded up C$0.18 on Friday, hitting C$18.87. 197,245 shares of the company were exchanged, compared to its average volume of 375,846. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05. The company has a 50-day moving average price of C$18.71 and a 200 day moving average price of C$17.64. The stock has a market capitalization of C$2.30 billion, a price-to-earnings ratio of -96.63 and a beta of 0.79. Killam Apartment REIT has a 1-year low of C$15.65 and a 1-year high of C$19.21.

Killam Apartment REIT (TSE:KMP.UN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported C$0.53 EPS for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%.The firm had revenue of C$99.16 million during the quarter. As a group, sell-side analysts predict that Killam Apartment REIT will post 1.2904074 earnings per share for the current fiscal year.

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.