Killam Apartment REIT Un (KMP.UN) AI Stock Analysis

• Market Cap: C$2.17B
• Dividend Yield: 4.04%
• Average Volume (3M): 286.95K
• Price to Earnings (P/E): 3.8
• Beta (1Y): 0.86
• Revenue Growth: 5.82%
• EPS Growth: 83.08%
• Country: CA
• Employees: 495
• Sector: Real Estate
• Sector Strength: 55
• Industry: REIT - Residential
• EPS (TTM): 0.27
• Shares Outstanding: 121,020,650
• 10 Day Avg. Volume: 287,340
• 30 Day Avg. Volume: 286,949
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$21.29
• Price Target Upside: 20.01% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7

• Rating: 75 Outperform
• Price Target: C$20.00 ▲(12.74% Upside)

Killam Apartment REIT Un is well-positioned with strong financial performance and an attractive valuation. The positive earnings call highlights growth potential, though some operational challenges exist. Technical indicators suggest a cautious approach due to mixed signals.

Positive Factors

Development Projects

Killam remains active in growing through new development projects, with three active projects under construction.

Earnings

Healthy operating performance drives 8% FFO per diluted unit, with results in-line with expectations.

Valuation

Killam currently trades at an implied cap rate of 5.5%, or a 9.0% discount to NAV estimate.

Negative Factors

Downgrade

Several apartment REITs, including Killam, were downgraded to HOLD from BUY.

Refinancing

Greater interest expense from mortgage refinancing has partially offset strong operating performance.

Rental Market Conditions

A large volume of new supply for rental housing and slower population growth have led to greater vacancy and lower market rental rates in most of Killam’s core markets.

Killam Apartment REIT Un Business Overview & Revenue Model

Company Description

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating, managing and developing a $3.6 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.

How the Company Makes Money

Killam Apartment REIT generates revenue primarily through rental income from its extensive portfolio of residential properties. The company collects rent from tenants residing in its apartment units and manufactured home communities, which forms the backbone of its recurring revenue stream. Additionally, Killam benefits from property appreciation, which can enhance the value of its real estate assets over time. The company may also engage in property development and redevelopment projects, adding new units or upgrading existing properties to command higher rental rates. Killam's earnings are further supplemented by strategic partnerships and joint ventures that enable expansion and diversification of its asset base. The focus on maintaining high occupancy rates and tenant satisfaction is crucial in sustaining its revenue model.

Killam Apartment REIT Un Financial Statement Overview

Summary

Killam Apartment REIT Un demonstrates strong profitability with high margins and consistent revenue growth. The balance sheet is healthy with manageable leverage, and cash flow management is effective, despite some room for improvement in cash conversion efficiency.

Income Statement

Killam Apartment REIT Un demonstrates strong profitability with a high gross profit margin of 66.36% and a robust net profit margin of 149.32% in the TTM. The company has shown consistent revenue growth, albeit at a slower rate recently. EBIT and EBITDA margins are also strong, indicating efficient operations.

Balance Sheet

The balance sheet reflects a healthy financial position with a moderate debt-to-equity ratio of 0.69, suggesting manageable leverage. Return on equity is solid at 18.38%, indicating effective use of equity capital. The equity ratio is stable, reflecting a balanced asset structure.

Cash Flow

Cash flow analysis shows positive trends with a significant free cash flow growth rate of 228.4% in the TTM. The operating cash flow to net income ratio is moderate, suggesting room for improvement in cash conversion efficiency. The free cash flow to net income ratio is healthy, indicating good cash generation relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	375.83M	364.65M	349.96M	328.85M	290.92M	261.69M
Gross Profit	249.40M	240.48M	225.85M	206.91M	183.24M	164.66M
EBITDA	330.66M	465.50M	206.22M	193.79M	136.36M	155.17M
Net Income	561.20M	667.84M	266.32M	122.52M	285.51M	146.02M
Balance Sheet
Total Assets	5.55B	5.44B	5.09B	4.86B	4.58B	3.78B
Cash, Cash Equivalents and Short-Term Investments	10.83M	13.21M	14.09M	9.15M	435.00K	2.56M
Total Debt	2.21B	2.21B	2.19B	2.21B	2.06B	1.69B
Total Liabilities	2.35B	2.35B	2.60B	2.59B	2.47B	2.01B
Stockholders Equity	3.20B	3.09B	2.48B	2.27B	2.11B	1.77B
Cash Flow
Free Cash Flow	73.97M	66.23M	41.35M	31.41M	64.05M	53.86M
Operating Cash Flow	156.47M	160.14M	139.73M	125.33M	140.86M	123.51M
Investing Cash Flow	-107.02M	-124.17M	-69.92M	-277.05M	-497.85M	-358.15M
Financing Cash Flow	-48.83M	-36.84M	-64.88M	154.38M	354.87M	224.40M

Killam Apartment REIT Un Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 17.74
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:KMP.UN, the sentiment is Negative. The current price of 17.74 is below the 20-day moving average (MA) of 17.75, below the 50-day MA of 18.49, and above the 200-day MA of 17.44, indicating a neutral trend. The MACD of -0.18 indicates Negative momentum. The RSI at 43.78 is Neutral, neither overbought nor oversold. The STOCH value of 54.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:KMP.UN.

Killam Apartment REIT Un Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KMP.UN	75 Outperform	C$2.17B	3.82	19.03%	4.04%	5.82%	83.08%
MRG.UN	68 Neutral	C$991.96M	10.58	4.86%	4.05%	3.93%	-29.40%
MI.UN	64 Neutral	C$500.54M	7.18	5.89%	3.87%	-0.69%	―
Sector *	63 Neutral	$7.06B	13.77	-0.50%	7.05%	4.08%	-25.24%
IIP.UN	56 Neutral	C$1.87B	―	-7.49%	2.95%	1.56%	-9446.15%
CAR.UN	55 Neutral	C$6.72B	84.51	0.88%	3.66%	-2.56%	―
BOWFF	―	$2.73B	10.61	6.62%	2.16%	―	―

Killam Apartment REIT Un Corporate Events

Killam Apartment REIT Announces August 2025 Distribution

Killam Apartment REIT has announced its August 2025 monthly distribution of $0.06 per unit, payable on September 15, 2025, to unitholders of record on August 29, 2025. The company offers a distribution reinvestment plan that allows eligible unitholders to reinvest their cash distributions in additional units, with a 3% bonus in units for those participating. This announcement reflects Killam’s ongoing commitment to providing value to its stakeholders and enhancing the profitability of its extensive real estate portfolio.

The most recent analyst rating on ($TSE:KMP.UN) stock is a Hold with a C$20.50 price target. To see the full list of analyst forecasts on Killam Apartment REIT Un stock, see the TSE:KMP.UN Stock Forecast page.

Killam Apartment REIT Reports Strong Q2-2025 Financial Performance

Killam Apartment REIT announced strong financial results for Q2-2025, highlighting a 6.0% increase in same property revenue and a 6.7% growth in net operating income compared to the previous year. The company continues to benefit from its capital recycling program, using proceeds from property sales to invest in newer, more efficient buildings, which has contributed to an 8.0% increase in adjusted funds from operations per unit. Additionally, Killam’s strategic acquisitions and developments, such as the 114-unit property in Fredericton and the sustainable Carrick development in Waterloo, underscore its commitment to growth and sustainability. The company’s improved debt metrics, with a debt-to-total assets ratio of 39.6%, further strengthen its financial position.

The most recent analyst rating on ($TSE:KMP.UN) stock is a Hold with a C$20.50 price target. To see the full list of analyst forecasts on Killam Apartment REIT Un stock, see the TSE:KMP.UN Stock Forecast page.

Killam Apartment REIT Announces July 2025 Distribution and Reinvestment Plan

Killam Apartment REIT has announced a monthly distribution of $0.06 per unit for July 2025, payable on August 15, 2025, to unitholders of record by July 31, 2025. The company also offers a distribution reinvestment plan, allowing eligible unitholders to reinvest their cash distributions into additional units, with an additional 3% distribution of units for those participating. This announcement reflects Killam’s ongoing commitment to providing value to its stakeholders and enhancing its market position by encouraging reinvestment and growth.

The most recent analyst rating on ($TSE:KMP.UN) stock is a Hold with a C$20.50 price target. To see the full list of analyst forecasts on Killam Apartment REIT Un stock, see the TSE:KMP.UN Stock Forecast page.

Killam Apartment REIT to Announce Q2 2025 Financial Results

Killam Apartment REIT announced that it will release its Q2 2025 financial results on August 6, 2025, after the Toronto Stock Exchange closes. A webcast and conference call to discuss the results and business initiatives will follow on August 7, 2025. This announcement is significant for stakeholders as it provides insights into the company’s financial performance and strategic direction.

The most recent analyst rating on ($TSE:KMP.UN) stock is a Hold with a C$20.50 price target. To see the full list of analyst forecasts on Killam Apartment REIT Un stock, see the TSE:KMP.UN Stock Forecast page.

Killam Apartment REIT Announces June 2025 Distribution and DRIP Benefits

Killam Apartment REIT has announced a monthly distribution of $0.06 per unit for June 2025, payable on July 15, 2025, to unitholders of record as of June 30, 2025. The company offers a distribution reinvestment plan (DRIP) where eligible unitholders can reinvest their distributions into additional units, receiving an extra 3% in units on the reinvested amount. This announcement underscores Killam’s commitment to providing value to its investors and enhancing its market position through strategic financial offerings.

The most recent analyst rating on ($TSE:KMP.UN) stock is a Hold with a C$20.50 price target. To see the full list of analyst forecasts on Killam Apartment REIT Un stock, see the TSE:KMP.UN Stock Forecast page.

Killam Apartment REIT Unveils 2024 ESG Achievements

Killam Apartment REIT has released its 2024 Environmental, Social, and Governance (ESG) Report, highlighting significant achievements in energy efficiency, emissions reduction, and community contributions. The report underscores Killam’s commitment to sustainability and responsible leadership, with notable recognitions such as being ranked #1 in GRESB’s North American Residential Public Disclosure Report and being named one of Canada’s Most Responsible Companies by Newsweek and Statista.

The most recent analyst rating on ($TSE:KMP.UN) stock is a Hold with a C$20.50 price target. To see the full list of analyst forecasts on Killam Apartment REIT Un stock, see the TSE:KMP.UN Stock Forecast page.

Killam Apartment REIT Announces May 2025 Distribution and DRIP Benefits

Killam Apartment REIT has announced its May 2025 monthly distribution of $0.06 per unit, payable on June 16, 2025, to unitholders of record as of May 30, 2025. The company offers a distribution reinvestment plan (DRIP) allowing eligible unitholders to reinvest cash distributions into additional units, with an additional 3% distribution for participating unitholders. This announcement reflects Killam’s ongoing commitment to providing value to its investors and enhancing its financial strategies.

The most recent analyst rating on ($TSE:KMP.UN) stock is a Hold with a C$20.50 price target. To see the full list of analyst forecasts on Killam Apartment REIT Un stock, see the TSE:KMP.UN Stock Forecast page.