Killam Apartment REIT
TSX:KMP.UN

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Killam Apartment REIT
TSX:KMP.UN
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Price: 18.21 CAD -0.11% Market Closed
Market Cap: 2.2B CAD
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Intrinsic Value

The intrinsic value of one KMP.UN stock under the Base Case scenario is 26.22 CAD. Compared to the current market price of 18.21 CAD, Killam Apartment REIT is Undervalued by 31%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

KMP.UN Intrinsic Value
26.22 CAD
Undervaluation 31%
Intrinsic Value
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Killam Apartment REIT

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Financials
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Balance Sheet Decomposition
Killam Apartment REIT

Current Assets 41m
Cash & Short-Term Investments 14.1m
Receivables 11.7m
Other Current Assets 15.2m
Non-Current Assets 5B
Long-Term Investments 5B
PP&E 9.9m
Other Non-Current Assets 6.5m
Current Liabilities 500.9m
Accounts Payable 35.3m
Accrued Liabilities 5.4m
Short-Term Debt 70.6m
Other Current Liabilities 389.7m
Non-Current Liabilities 2.1B
Long-Term Debt 1.7B
Other Non-Current Liabilities 354.7m
Efficiency

Earnings Waterfall
Killam Apartment REIT

Revenue
354.7m CAD
Cost of Revenue
-122.7m CAD
Gross Profit
231.9m CAD
Operating Expenses
-21.6m CAD
Operating Income
210.3m CAD
Other Expenses
99.7m CAD
Net Income
310m CAD

Free Cash Flow Analysis
Killam Apartment REIT

Last Value
3-Years Average
FCF Margin
Conversion Rate
Fundamental Scores

KMP.UN Profitability Score
Profitability Due Diligence

Killam Apartment REIT's profitability score is 63/100. The higher the profitability score, the more profitable the company is.

63/100
Profitability
Score

Killam Apartment REIT's profitability score is 63/100. The higher the profitability score, the more profitable the company is.

KMP.UN Solvency Score
Solvency Due Diligence

Killam Apartment REIT's solvency score is 25/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Low D/E
Low Altman Z-Score
Short-Term Solvency
25/100
Solvency
Score

Killam Apartment REIT's solvency score is 25/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

KMP.UN Price Targets Summary
Killam Apartment REIT

Wall Street analysts forecast KMP.UN stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for KMP.UN is 23.4 CAD with a low forecast of 20.71 CAD and a high forecast of 25.73 CAD.

Lowest
Price Target
20.71 CAD
14% Upside
Average
Price Target
23.4 CAD
28% Upside
Highest
Price Target
25.73 CAD
41% Upside
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Dividends

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N/A
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Shareholder Yield

Current shareholder yield for KMP.UN is .

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Profile

Killam Apartment REIT Logo
Killam Apartment REIT

Country

Canada

Industry

Real Estate

Market Cap

2.2B CAD

Dividend Yield

4.48%

Description

Killam Apartment REIT engages in the ownership, management and development of multi-family residential properties. The company is headquartered in Halifax, Nova Scotia. The company went IPO on 2000-12-21. The Trust specializes in the acquisition, management and development of multi-residential apartment buildings, manufactured home communities (MHCs) and commercial properties in Canada. Its segments include Apartment segment, MHC segment and Commercial. The Apartment segment acquires, operates, manages and develops multi-family residential properties across Canada. MHC segment acquires and operates MHC communities in Ontario and Eastern Canada. Other segment includes 14 commercial properties. The Company’s subsidiaries include Killam Apartment General Partner Ltd, Killam Properties Inc., Killam Investments Inc., Blackshire Court Ltd and Killam Properties Apartments Trust.

Contact

NOVA SCOTIA
Halifax
Suite 100, 3700 Kempt Road
+19024539000.0
killamreit.com

IPO

2000-12-21

Employees

650

Officers

President, CEO & Executive Trustee
Mr. Philip D. Fraser B.Comm, MBA, MURP
Chief Financial Officer
Ms. Dale Noseworthy C.A., C.F.A., CPA
Executive VP & Trustee
Mr. Robert G. Richardson B.Comm., F.C.A., FCPA
Senior Vice President of Property Management
Ms. Ruth Buckle-McIntosh
Senior Vice President of Development
Mr. Michael McLean
Vice President of Operations
Mr. Brian Jessop C.P.M., P.Eng.
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Senior Manager of Investor Relations
Claire Hawksworth CPA
Vice President of Marketing & Government Relations
Mr. Jeremy Winston Jackson B.B.A., M.B.A.
Vice President of Human Resources
Ms. Colleen McCarville
Senior Vice President of Finance
Ms. Erin Cleveland C.A., CPA
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See Also

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What is the Intrinsic Value of one KMP.UN stock?

The intrinsic value of one KMP.UN stock under the Base Case scenario is 26.22 CAD.

Is KMP.UN stock undervalued or overvalued?

Compared to the current market price of 18.21 CAD, Killam Apartment REIT is Undervalued by 31%.

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