Killam Apartment REIT (TSE:KMP.UN) Reaches New 52-Week High at $20.00

Killam Apartment REIT (TSE:KMP.UN)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as C$20.00 and last traded at C$19.96, with a volume of 183892 shares trading hands. The stock had previously closed at C$19.61.

KMP.UN has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of Killam Apartment REIT from C$18.50 to C$20.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Raymond James raised their target price on shares of Killam Apartment REIT from C$19.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. BMO Capital Markets raised their target price on shares of Killam Apartment REIT from C$19.00 to C$20.00 in a research report on Monday, May 6th. Finally, CIBC raised their target price on shares of Killam Apartment REIT from C$19.00 to C$20.00 in a research report on Friday, May 3rd. Five analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of C$19.11.

The company has a current ratio of 0.07, a quick ratio of 0.02 and a debt-to-equity ratio of 105.80. The stock’s fifty day simple moving average is C$19.47. The firm has a market capitalization of $891.79 million and a P/E ratio of 13.23.

About Killam Apartment REIT (TSE:KMP.UN)

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.

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