TSE:KMP.UN
19.75
0.03
(0.15%)
Analysis and Opinions about KMP.UN-T
Signal
Opinion
Expert
BUY
BUY
December 10, 2019
The multi-dwelling residential REIT space has been shooting up in markets like Halifax, Quebec and Toronto. KMP is making new developments. He likes this, but it's too expensive. Tailwinds (geographies) are working for KMP.
Show full opinionHide full opinion
The multi-dwelling residential REIT space has been shooting up in markets like Halifax, Quebec and Toronto. KMP is making new developments. He likes this, but it's too expensive. Tailwinds (geographies) are working for KMP.
BUY
BUY
December 2, 2019
It's pulled back recently, so now is a good time to buy. They hold apartments, especially in the east coast, like Halifax and Charlottetown. Well-run.
Show full opinionHide full opinionIt's pulled back recently, so now is a good time to buy. They hold apartments, especially in the east coast, like Halifax and Charlottetown. Well-run.
HOLD
HOLD
November 27, 2019
He thinks KMP is fair valued and he likes the management team. They have diversified outside of Atlantic Canada. There is a rumour that a portfolio is going to happen in the region at 4% unlevered cash return. KMP generates a 6% unlevered return which makes them highly valued.
Show full opinionHide full opinionHe thinks KMP is fair valued and he likes the management team. They have diversified outside of Atlantic Canada. There is a rumour that a portfolio is going to happen in the region at 4% unlevered cash return. KMP generates a 6% unlevered return which makes them highly valued.
TOP PICK
TOP PICK
October 31, 2019
One of Canada's largest residential landlords. Mainly on east coast. Likes that it's a younger portfolio, in a non- rent controlled market. Track record of accretive development activity. Can generate mid-single digit growth. Dividend is well covered. Yield is 3.38%. (Analysts’ price target is $20.77)
Show full opinionHide full opinionOne of Canada's largest residential landlords. Mainly on east coast. Likes that it's a younger portfolio, in a non- rent controlled market. Track record of accretive development activity. Can generate mid-single digit growth. Dividend is well covered. Yield is 3.38%. (Analysts’ price target is $20.77)
BUY
BUY
August 22, 2019
A great REIT which usually raises its dividend. Earnings are growing. But they are more exposed to the east coast, but they are reducing that to buy more in Ontario and Calgary. Their properties are newer, so demand less capex than their peers. Trades at 10% discount to its large-cap peers.
Show full opinionHide full opinionA great REIT which usually raises its dividend. Earnings are growing. But they are more exposed to the east coast, but they are reducing that to buy more in Ontario and Calgary. Their properties are newer, so demand less capex than their peers. Trades at 10% discount to its large-cap peers.
DON'T BUY
DON'T BUY
April 29, 2019
It's expensive like all apartment REITs. They've diversified a lot over recent years which has made it more stable. He is very negative on Canadian real estate. There will be less home ownership in the future, which will be a tailwind for Killam, but he expects the values of these properties will decline.
Show full opinionHide full opinionIt's expensive like all apartment REITs. They've diversified a lot over recent years which has made it more stable. He is very negative on Canadian real estate. There will be less home ownership in the future, which will be a tailwind for Killam, but he expects the values of these properties will decline.
HOLD
HOLD
December 5, 2018
This is benefiting from the trend towards renting by the residential space. Canadians have not had good rental options provided by landlords offering real services to their tenants.
Show full opinionHide full opinionThis is benefiting from the trend towards renting by the residential space. Canadians have not had good rental options provided by landlords offering real services to their tenants.
BUY
BUY
August 16, 2018
Good management, assets and balance sheet. Killam is enjoying the housing shortage by capturing growth in rentals. The stock has run quite a bit, so maybe trim a bit here. There's still room to grow. Killam picks up existing apartment
buildings then injects some money into them.
Good management, assets and balance sheet. Killam is enjoying the housing shortage by capturing growth in rentals. The stock has run quite a bit, so maybe trim a bit here. There's still room to grow. Killam picks up existing apartment
buildings then injects some money into them.
DON'T BUY
DON'T BUY
August 14, 2018
He's been watching this. They had a strong quarter, but it's well-valued already. He needs to see more upside. If rates rise, this will get hurt. Then again, apartment rentals are needed. Killam is paying only a 4.1% yield and he prefers those at least 6%.
He's been watching this. They had a strong quarter, but it's well-valued already. He needs to see more upside. If rates rise, this will get hurt. Then again, apartment rentals are needed. Killam is paying only a 4.1% yield and he prefers those at least 6%.
COMMENT
COMMENT
December 8, 2017
Doesn’t know this very well. REITs is a very hot field. A lot of people are saying apartments are the way to go. Thinks there are some major things that might hit the economy such as huge debt loads, both government and personal. Also, real estate prices have gone up like crazy, although they have cooled to some degree, but could still fall quite a bit.
Doesn’t know this very well. REITs is a very hot field. A lot of people are saying apartments are the way to go. Thinks there are some major things that might hit the economy such as huge debt loads, both government and personal. Also, real estate prices have gone up like crazy, although they have cooled to some degree, but could still fall quite a bit.
PAST TOP PICK
PAST TOP PICK
September 28, 2017
(A Top Pick Sept 23/16. Up 13%.) At the time, it was cheap relative to its peers. It also had a good growth rate relative to its peers. Halifax is turning the corner and continues to shine. Their growth rate of 5.5% is a little less than it was then at 7%-8%. Their multiple is a little more expensive. This is still a Hold.
(A Top Pick Sept 23/16. Up 13%.) At the time, it was cheap relative to its peers. It also had a good growth rate relative to its peers. Halifax is turning the corner and continues to shine. Their growth rate of 5.5% is a little less than it was then at 7%-8%. Their multiple is a little more expensive. This is still a Hold.
PAST TOP PICK
PAST TOP PICK
June 16, 2017
(A Top Pick June 17/16. Up 8%.) He could see good growth at a reasonable price and trading at a multiple that was in line with the market, and yet at a higher growth rate. It was levered to Halifax which had turned the corner. There is probably more to go on this one. Leverage on the balance sheet is still a little high.
(A Top Pick June 17/16. Up 8%.) He could see good growth at a reasonable price and trading at a multiple that was in line with the market, and yet at a higher growth rate. It was levered to Halifax which had turned the corner. There is probably more to go on this one. Leverage on the balance sheet is still a little high.
COMMENT
COMMENT
April 18, 2017
Apartment REITs have done very well lately. He likes this a lot, because it has always traded at a discount to its peer group. It’s always tended to have a little higher leverage. Buying more properties in Ontario as well as reducing the debt on its balance sheet, and yet it has not received the multiple pick up. A great story for a re-rating.
Apartment REITs have done very well lately. He likes this a lot, because it has always traded at a discount to its peer group. It’s always tended to have a little higher leverage. Buying more properties in Ontario as well as reducing the debt on its balance sheet, and yet it has not received the multiple pick up. A great story for a re-rating.
TOP PICK
TOP PICK
February 3, 2017
In the Maritimes, but they have been developing in Ontario, and have recently been expanding into Alberta as well. He likes the apartment REITs. They have all kind of run, however this one is at a significant discount and doing very well. It has been lowering its debt. They still have a convertible outstanding that should be paid off, so he does expect an equity offering sometime in the next 6 months or so. Dividend yield of 4.87%. (Analysts’ price target is $13.80.)
In the Maritimes, but they have been developing in Ontario, and have recently been expanding into Alberta as well. He likes the apartment REITs. They have all kind of run, however this one is at a significant discount and doing very well. It has been lowering its debt. They still have a convertible outstanding that should be paid off, so he does expect an equity offering sometime in the next 6 months or so. Dividend yield of 4.87%. (Analysts’ price target is $13.80.)
PAST TOP PICK
PAST TOP PICK
January 18, 2017
(A Top Pick Jan 21/16. Up 22.33%.) Had thought the Halifax fundamentals might be turning the corner, which they have. Still trades at a discount to their apartment peers and they are growing faster. Apartment REITs are an asset class you can own in a rising interest rate environment.
(A Top Pick Jan 21/16. Up 22.33%.) Had thought the Halifax fundamentals might be turning the corner, which they have. Still trades at a discount to their apartment peers and they are growing faster. Apartment REITs are an asset class you can own in a rising interest rate environment.
