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Killam Apartment REIT T.KMP.UN

Alternate Symbol(s):  KMMPF

Killam Apartment Real Estate Investment Trust (Trust) is a Canada-based residential real estate investment trust. The Trust owns, operates, and develops a $5.3 billion portfolio of apartments and manufactured home communities (MCHs). Its segments include Apartment, MHC, and Commercial. Its Apartment segment acquires, operates, manages and develops multifamily residential properties across Canada. Its MHC segment acquires and operates MHC communities in Ontario and Eastern Canada. Its Commercial segment acquires and operates stand-alone commercial properties in Ontario, Nova Scotia and Prince Edward Island. Its apartment portfolio consists of over 18,801 units, including 1,343 units jointly owned with institutional partners. It owns over 5,975 sites in 40 MHCs, also known as land-lease communities or trailer parks, in Ontario and Atlantic Canada. It owns the land and infrastructure supporting these communities and leases sites to tenants who own their own homes and pay Killam site rent.


TSX:KMP.UN - Post by User

Killam Apartment REIT
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Post by retiredcfon Sep 29, 2024 12:51pm
580 Views
Post# 36246025

Assessment

AssessmentKMP.UN has seen nice momentum recently amid the rate cuts from the Bank of Canada, and it trades at a decent valuation of 11.2X forward earnings. Its balance sheet is decent, and we could see its fundamentals improve as rates continue to decline. For a larger residential REIT, we might prefer CAR.UN, but KMP.UN has demonstrated similar returns over the years. (5iResearch)

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