Raymond James Financial Forecasts Strong Price Appreciation for Killam Apartment REIT (TSE:KMP.UN) Stock

Killam Apartment REIT (TSE:KMP.UN) had its price target lifted by research analysts at Raymond James Financial from C$21.00 to C$21.25 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price objective would suggest a potential upside of 12.61% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Scotia boosted their price target on shares of Killam Apartment REIT from C$19.50 to C$20.00 and gave the stock a “sector outperform” rating in a report on Friday, May 8th. TD boosted their target price on Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada increased their price target on Killam Apartment REIT from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, National Bank Financial boosted their price objective on Killam Apartment REIT from C$19.75 to C$20.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, Killam Apartment REIT currently has an average rating of “Buy” and an average target price of C$20.45.

Killam Apartment REIT Stock Up 1.0%

Shares of KMP.UN stock traded up C$0.18 during trading hours on Friday, reaching C$18.87. The company had a trading volume of 197,245 shares, compared to its average volume of 375,846. The business has a fifty day simple moving average of C$18.71 and a 200-day simple moving average of C$17.64. Killam Apartment REIT has a 12 month low of C$15.65 and a 12 month high of C$19.21. The company has a market cap of C$2.30 billion, a price-to-earnings ratio of -96.63 and a beta of 0.79. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03.

Killam Apartment REIT (TSE:KMP.UN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported C$0.53 earnings per share for the quarter. The business had revenue of C$99.16 million for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%. On average, research analysts expect 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.