Killam Apartment REIT Un Receives a Buy from CIBC

By Carrie Williams

In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, Killam Apartment REIT Un (TSX: KMP.UN). Analyst Dean Wilkinson from CIBC reiterated a Buy rating, with a C$15.50 price target on May 10.

Wilkinson has an average return of 11.7% when recommending Killam Apartment REIT Un.

According to TipRanks.com, Wilkinson is ranked #451 out of 4801 analysts.

Killam Apartment REIT Un has an analyst consensus of Moderate Buy, with a price target consensus of C$15.

Based on Killam Apartment REIT Un’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$68.91 million. In comparison, last year the company had a net profit of C$17.65 million.

Killam Apartment REIT engages in the ownership, management, and development of multi-family residential properties. It operates through the following segments: Apartments, Manufactured Home Communities, and Other. The Apartments segment includes property revenue, property operating expenses and fair value of investment property by region.

The company’s shares closed on Friday at C$15.17, close to its 52-week high of C$15.19.