Killam Properties Inc (KMP.UN.TO) Buy, Sell…

Killam Properties Inc (KMP.UN.TO)

18.93

-0.03 (0.16%)

as of Jun 10, 2026, 8:00:00 pm Market Open.

155 watching

COMMENT

This quarter came in flat as they had a little higher repairs, maintenance expenses and property taxes. Utilities got hit by the rise in oil prices. Great quality, core name. Multiple is a little high at 18-19 times free cash flow. Normally would buy at these levels, but with a volatile market will wait and see how it shakes out.

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BUY

Apartment REITs and manufactured home communities, mainly in Atlantic Canada but also in Ontario. Increased their dividend this year. Concerned that they have gone into the luxury apartment market in Ontario.

PAST TOP PICK

Killam Properties, Up 35% since May 28, 2010, He sold it recently because he thought it had done its run. Replaced it with Mainstream Equity.

TOP PICK

Multi-family. Apartments and trailer parks, mainly in Atlantic Canada but increasingly in Ontario too. Worth $11.50-$12. Some headwinds on property taxes and utilities. Good quality name. Very safe and secure cash flow.

TOP PICK

Get access to CMHC financing. Own apartments in Eastern Ontario and manufacture mobile homes. Have a ton of capital that they can access to grow the bottom line. Should get an 8%-10% rate of return this year.

HOLD

Fairly high dividend yield. Well managed and have good properties. Will have trouble growing from here without taking a fair amount of risk. He’s been taking a little off the table.

TOP PICK

Apartments and manufactured homes in Atlantic Canada, Ontario and a little bit of Alberta. Great quality name. The take-out of Park Bridge earlier this year by BCIMC implies that KMP could be worth $12-$13. Compelling return at these levels.

BUY

Good properties and they are good managers. They were company building and not shareholder value building earlier but on the right track now. Announced some new developments. For the first time you will see some value-add activities out of them. Recently they did an acquisition - pretty accretive.

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PAST TOP PICK

(Top Pick Oct 6/09, Up 51.44%)

HOLD

Nice recovery in the share price and add a near all-time high. If you are a long-term income investor, continue to Hold. Good company.

HOLD

Finally getting its recognition. Getting a little extra push right now with their competition Parkbridge being taken out. Well managed and a very stable business. Probably as high as it's going to go for a while. 5.4% yield. Long-term hold.

TOP PICK

Apartments and gets all the benefits of CMHC financing. Starting to grow in Ontario. About 85% payout ratio and a sustainable 6.1% yield.

TOP PICK

Own the apartment buildings and manufactured houses, basically mobile homes using CMHC financing. Just reported great numbers. Net operating income increased 5% and they upped guidance 5%. Good management and there is still room to grow.

PAST TOP PICK

(A Top Pick July 20/09. Up 61.93%.) Still likes but a little expensive right now.

COMMENT

The Atlantic region has done very well. This one is a nice growth situation.

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Killam Properties Inc (KMP.UN.TO)