Killam Apartment REIT (OTCMKTS:KMMPF) Short Interest Up 24.3% in May

Killam Apartment REIT (OTCMKTS:KMMPFGet Rating) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 140,100 shares, an increase of 24.3% from the May 15th total of 112,700 shares. Based on an average daily trading volume, of 100 shares, the days-to-cover ratio is currently 1,401.0 days.

Several equities analysts recently commented on the company. Canaccord Genuity Group reduced their target price on Killam Apartment REIT from C$25.50 to C$23.50 and set a “buy” rating for the company in a research report on Friday, May 6th. Royal Bank of Canada decreased their price objective on shares of Killam Apartment REIT from C$25.50 to C$24.00 in a research report on Friday, May 6th. Scotiabank lowered their target price on shares of Killam Apartment REIT from C$24.75 to C$23.75 in a research note on Friday, May 6th. BMO Capital Markets cut their price target on shares of Killam Apartment REIT from C$26.00 to C$24.00 in a research note on Friday, May 6th. Finally, TD Securities lowered their price objective on shares of Killam Apartment REIT from C$26.00 to C$25.00 in a research report on Friday, May 6th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $24.75.

Shares of OTCMKTS:KMMPF opened at $12.75 on Friday. The stock’s 50-day moving average is $15.05 and its 200 day moving average is $16.59. Killam Apartment REIT has a 1 year low of $12.75 and a 1 year high of $18.62.

Killam Apartment REIT Company Profile (Get Rating)

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.

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