Killam Apartment REIT Un (KMP.UN – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst today. Analyst Mark Rothschild from Canaccord Genuity maintained a Buy rating on the stock and has a C$19.25 price target.
Mark Rothschild’s rating is based on Killam Apartment REIT’s strong financial performance and growth prospects. The REIT demonstrated solid results in the first quarter of 2025, with funds from operations per diluted unit increasing by 7.7% year-over-year, aligning with market expectations. This growth was primarily driven by a significant rise in same-property rental rates, contributing to an 8.0% increase in same-property net operating income.
Additionally, Killam’s strategic focus on development projects further supports its growth trajectory. The company is actively engaged in new developments, including projects in Halifax and Waterloo, which are expected to yield attractive returns. Despite some challenges such as increased interest expenses, Killam’s valuation remains appealing, trading at a discount to its net asset value compared to its peers. These factors collectively justify the Buy rating, reflecting confidence in Killam’s ability to deliver sustainable growth and value to investors.
In another report released on April 25, TD Securities also maintained a Buy rating on the stock with a C$21.00 price target.