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Killam Properties Makes Significant Moves

January 30th, 2017 Comments off
KillamReceivesRecommendationsFromRatingsFirmscreditRentalHousingBusiness-postedtothedailybusinessnewsmhpronewmhlivingnews

Credit: Rental Housing Business.

Canada based real estate investment trust Killam Properties Inc. (TSE:KMP.UN) tells MHProNews that the company has closed on two Canadian acquisitions worth $26.2 million, including 153 apartment units in London, Ontario, and 66 units in Calgary, Alberta.

On December 22, Killam acquired a five building portfolio in London for $13.4 million, or $87,500 per unit. Killam’s London portfolio now consists of 417 total rental units.

On January 16, Killam acquired Spruce Grove Lane Apartments, its second apartment property in the city of Calgary. The 3-acre site consists of 66 townhouse-style apartments, with a purchase price of $12.8 million, or $195,000 per unit.

KillamPropertiesMakesSignificantMovescreditRentboardCA-postedtothedailybusinessnewsmhpronewsmhlivingnews

Spruce Grove Lane. Credit: Rentboard CA.

philipfraser-presidentceokillamproperties-manufacturedhomecommunitiesdailybusinessnews-mhpronewsWe are pleased to grow our rental portfolios in both London and Calgary,” noted Philip Fraser, President and CEO.

We have been monitoring the Calgary rental market over the last year and Spruce Grove Lane Apartments, located in a sought-after residential neighborhood, has great upside. We have the opportunity to add value and grow net operating income at this property.

The acquisitions bring the company’s total for 2016 to $70 million, which exceeds management’s goal of $50 million in acquisitions for the year.

KillamPropertiesMakesSignificantMovescreditBloomberg-postedtothedailybusinessnewsmhpronewsmhlivingnews

Killam 1 year look. Credit: Bloomberg.

Killam also received recommendations from rating agencies recently, with an average recommendation of “buy,” from TD Securities and “sector perform” from Scotiabank. That story is linked here.

As Daily Business News readers are aware, in addition to multifamily apartments, Killam owns 35 manufactured home communities in Atlantic Canada and Ontario.

Killam is also one of the manufactured home industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews. For the recent closing numbers yesterday on all MH industry-connected tracked stocks, please click here. ##

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Killam Receives Recommendations From Ratings Firms

January 16th, 2017 Comments off
KillamReceivesRecommendationsFromRatingsFirmscreditRentalHousingBusiness-postedtothedailybusinessnewsmhpronewmhlivingnews

Killam President Philip Fraser. Credit: Rental Housing Business.

Canada based real estate investment trust Killam Properties Inc. (TSE:KMP.UN) received a number of recommendations from ratings firms recently, with an average recommendation of “buy.

According to Community Financial News, Canaccord Genuity decreased their price target on Killam Properties from C$14.00 to C$13.50 on January 5th.

Scotiabank reaffirmed its “sector perform” rating and set a C$13.75 target price on Killam shares in a report on November 2nd.

TD Securities reaffirmed its “buy” rating on Killam and issued a C$15.00 price target on shares of Killam Properties on October 11th.

KillamReceivesRecommendationsFromRatingsFirmscreditBloomberg-postedtothedailybusinessnewsmhpronewmhlivingnews

Killam 1 year look. Credit: Bloomberg.

As Daily Business News readers are aware, in addition to multifamily apartments, Killam owns 35 manufactured home communities in Atlantic Canada and Ontario.

Killam is also one of the manufactured home industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews. For the recent closing numbers yesterday on all MH industry-connected tracked stocks, please click here. ##

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Killam Receives Updated Rating from Analysts

December 8th, 2016 Comments off
tdsecuritiesscotiabankrestatepositiveratingsforkillampropertiescreditglobeandmailtdscotiabankkillam-postedtothedailybusinessnewsmhpronewsmhlivingnews

Pictured: Philip Fraser. Credits: Globe and Mail, TD Securities, Scotiabank, Killam.

Killam Properties Inc. (TSE:KMP.UN) received a re-issue rating from TD Securities of “buy” in a research note published on December 1st.

The firm currently has a C$15.00 price target on the stock.

Other analysts have also issued reports recently:

  • BMO Capital Markets increased their target price on the company from C$13.00 to C$13.50 on August 8th.
  • Scotiabank reissued a “sector perform” rating and set a target price of C$13.25 on August 4th.
  • Raymond James Financial Inc. increased their target price from C$13.25 to C$13.75 and gave the stock an “outperform” rating on August 5th.
  • Canaccord Genuity moved from a “buy” rating to a “hold” rating and increased their price target for the stock from C$13.50 to C$14.00 on July 27th.
  • Royal Bank Of Canada increased their price target from C$13.00 to C$14.00 on August 8th.

Killam Properties stock presently has an average rating of “buy” and a consensus price target of C$13.97.

KillamReceivesBuyRatingfromAnalystscreditbloomberg-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Bloomberg.

As Daily Business News readers are aware, in addition to multifamily apartments, Killam owns 35 manufactured home communities in Atlantic Canada and Ontario.

Killam is also one of the manufactured home industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews. For the recent closing numbers yesterday on all MH industry-connected tracked stocks, please click here. ##

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Sunday Morning Weekly Recap – Manufactured Housing Industry News – November 6th – November 13th, 2016

November 13th, 2016 Comments off

sunday-morning-weekly-manufactured-home-pro-news-recap-1-4-to-1-10-2015-mhpronews-com-This month, we continue with our thought-provoking themeEntrepreneurs November in MHVille 2016That link will take you to all of the featured articles and interviews this month.

Manufactured, modular and prefabricated home professionals know that how a home got to its location should not define a person or their dwelling.

What the Daily Business News spotlights day-by-day are the tragedies, triumphs and struggles for acceptance of the obvious solution for millions for the growing affordable housing crisis in the U.S. and beyond.

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When you read the lineup for the month found on Entrepreneurs November in MHVille 2016, you can reflect on another motto as you chart your own professional path ahead:

We Provide, You Decide.”  ©

 

What’s New On MHLivingNews

mhlivingnews-improvedlivingforle-logo

 

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Credit: MHProNews. 

State’s Manufactured Home Sales Soar

Designer Amy Shock’s Extreme Mobile Home Makeover – Photos & Report

 

What’s New On MHProNews

 

Saturday November 12th, 2016

1sundaymorningweeklyrecapmanufacturedhousingindustrynewsnovmeber6thnov13th2016-postedtomanufacturedhousingindustrydailybusinessnewsmhpronews 

Housing Summit to Address Workforce Housing, Showcase Manufactured Housing

 

Friday November 11th, 2016

 

Manufactured Housing CV Up 3.54 Percent, New Record High for Broader Markets

 2sundaymorningweeklyrecapmanufacturedhousingindustrynewsnovmeber6thnov13th2016-postedtomanufacturedhousingindustrydailybusinessnewsmhpronews

Investor Sentiment Better than Expected for UMH Properties

Tribal Nation Wins Appeal in “Mobile” Community Case

Investors, Analysts Weigh in on Equity LifeStyle Properties

 

Thursday November 10th, 2016

 

Affiliated Managers Group Up, MHCV Down, Broader Markets Mixed, Dow Sets Record

President-Elect Transition Team, POTUS Obama, Mr. Trump Meet

3sundaymorningweeklyrecapmanufacturedhousingindustrynewsnovmeber6thnov13th2016-postedtomanufacturedhousingindustrydailybusinessnewsmhpronews 

Utility Shutdown Could Lead to MH Community Being Condemned

Cavco Industries Reports Q2 Results 

Stocks Plunge & Surge – Unity and Protests

Ordinance Preventing Section 8 Discrimination Passes

  

Wednesday November 9th, 2016

4sundaymorningweeklyrecapmanufacturedhousingindustrynewsnovmeber6thnov13th2016-postedtomanufacturedhousingindustrydailybusinessnewsmhpronews

Skyline spikes, leads MHCV as Dow Swings 1000 Points On Trump Victory

“Amazing Future Homes” Video

TD Securities, Scotiabank Restate Positive Ratings for Killam Properties

Upset Win by Gracious President Elect, Donald Trump

  

Tuesday November 8th, 2016

Sun Communities, Universal Forest Products Up, MHCV Down, Broader Markets Steady

Money Missing from MH Cooperative, President Arrested

Trump has 32-25 lead in NH, Brits say Election for “Soul” of America 

Residents Forced to Move Due to Rezoning

5sundaymorningweeklyrecapmanufacturedhousingindustrynewsnovmeber6thnov13th2016-postedtomanufacturedhousingindustrydailybusinessnewsmhpronews 

Status Quo or Time for a Big Change? Election 2016

  

Monday November 7th, 2016

UMH Properties Leads Up Day for MHCV, Broader Markets Up 371

Top Trends for Manufactured Home Buyers

 6sundaymorningweeklyrecapmanufacturedhousingindustrynewsnovmeber6thnov13th2016-postedtomanufacturedhousingindustrydailybusinessnewsmhpronews

State Manufactured Homes Sales Rise 47 Percent In 2016

All Locked Up! Election Videos, Pics & Analysis

Champion Homes Purchases Former Excel Homes Facility

  

Sunday November 6th, 2016

 7sundaymorningweeklyrecapmanufacturedhousingindustrynewsnovmeber6thnov13th2016-postedtomanufacturedhousingindustrydailybusinessnewsmhpronews

Sunday Morning Weekly Recap – Manufactured Housing Industry News – October 30th – November 5th, 2016

Clinton Cash Machine vs. Donald Trump’s Movement – Closing Arguments Video

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

TD Securities, Scotiabank Restate Positive Ratings for Killam Properties

November 9th, 2016 Comments off
tdsecuritiesscotiabankrestatepositiveratingsforkillampropertiescreditglobeandmailtdscotiabankkillam-postedtothedailybusinessnewsmhpronewsmhlivingnews

Pictured: Philip Fraser. Credits: Globe and Mail, TD Securities, Scotiabank, Killam.

TD Securities and Scotiabank have both reiterated their positive ratings for Killam Properties Inc. (KMP.UN).

TD Securities issued a note to investors on November 3rd, restating its “buy” rating for the company’s stock, with a price target of C$15.00.

Scotiabank also restated their “perform” rating on Killam in a report released on November 2nd. Scotiabank has a C$13.75 price target on the stock.

According to The Cerbat Gem, a number of other banks have also released reports on Killam recently:

  • RBC Capital Markets raised their price target on shares from C$13.00 to C$14.00 in a report on August 5th.
  • CIBC raised their price target on shares from C$13.25 to C$13.75 in a report on August 5th.
  • Royal Bank Of Canada raised their price target on shares of Killam Properties from C$13.00 to C$14.00 in a report on August 8th.
  • Canaccord Genuity downgraded shares of Killam from a “buy” rating to a “hold” rating and raised their price target for the company from C$13.50 to C$14.00 in a report on July 27th.

 

tdsecuritiesscotiabankrestatepositiveratingsforkillampropertiescreditcerbatgem-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: The Cerbat Gem.

Overall, two investment analysts have rated the stock with a “hold” and five have issued a “buy” rating. The company presently has an average rating of “buy” and an average target price of C$13.97.

As regular Daily Business News readers are already aware, in addition to multifamily apartments, Killam owns 35 manufactured home communities in Atlantic Canada and Ontario.

 

tdsecuritiesscotiabankrestatepositiveratingsforkillampropertiescreditbloomberg-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Bloomberg.

Killam is also one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews. For the recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Scotiabank ups Killam Properties Price Target to C$13.25

September 20th, 2016 Comments off

killampropertiescredit-postedmanufacturedhousingindustrymanufacturedhomecommunitiesdailybusinessnewsmhpronewsAccording to the Daily Quint, analysts at Scotiabank has increased the price target for Killam Properties Inc. (TSE:KMP.UN) from C$13.00 to C$13.25 in a research note issued on Friday. The firm currently has a “Sector Perform” rating on the stock.

In addition to Scotiabank, other research firms have commented on Killam in recent months:

  • CIBC increased their target price on shares from C$12.25 to C$13.25 in a research report on May 12th.
  • TD Securities increased their target price on shares from C$13.00 to C$14.00 and gave the stock a buy rating on May 12th.
  • RBC Capital increased their target price on shares from C$12.00 to C$13.00 and gave the stock an Outperform rating May 12th.
  • Canaccord Genuity boosted their target price on shares from C$12.00 to C$13.25 and gave the stock a buy” rating in a research report May 11th.

As we’ve previously reported (here and here), Killam Properties has been on an upswing for almost a year.

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Killam announced a distribution in August of $0.05 per unit was paid on September 15th to unit holders of record on August 31st.

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In their Q2 2016 earnings report on August 3rd, Killam reported 9.5% growth in FFO per unit, a $98 million dollar equity raise and $57 million of acquisitions completed. Details from the report can be found here.

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In addition to multifamily apartments, Killam owns 35 manufactured home communities in Atlantic Canada and Ontario. Killam is part of the Daily Business News market report, for today’s closing numbers and full report, click here. ##
(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC WIlliams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News on MHProNews.

Raymond James Upgrades Killam Properties to “Strong Buy”

October 8th, 2015 Comments off

killam propertiesMHProNews has learned from dakotafinancialnews that investment analysts at Raymond James have upgraded Killam Properties (TSE:KMP) from an out-perform rating to a strong buy rating. Other comments on Killam include Dundee Securities upgrading Killam from a neutral rating to a buy rating, setting a C$11.50 price objective for the company stock.

Scotiabank set a C$11.50 price target on shares of Killam, giving the stock a “sector perform” rating in a report, while TD Securities dropped their target price on company stock from C$12.00 to C$11.50, setting a hold rating. RBC Capital issued an “outperform” rating and set a C$12.00 price target on shares of Killam.

The company stock has a 50-day moving average of $9.98, and a 200 day moving average of $10.36. The firm’s market cap is $630.28 million and has a PE ratio of 22.21. Company stock has a one year low of $9.21 and a one year high of $11.24.

Killam recently issued a dividend of $0.0382 per share, payable on Sept. 15 to shareholders of record as of August 31, 2015.

Killam owns and operates 35 manufactured home communities in Ontario and Atlantic Canada, and also owns multi-family apartments, totaling 199 properties, representing assets of $1.5 billion. In trading today, the stock closed at $10.12, up +1.50 percent. ##

(Photo credit: Killam Properties)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Killam Paying Dividend

August 14th, 2014 Comments off

killam propertiesHalifax, Nova Scotia, Canada-based Killam Properties, Inc. (TSE:KMP) announced on Aug. 13 shareholders of record as of Aug. 29, 2014 will be paid a dividend per share of $0.05, according to watchlistnews.com. While analysts at CIBC cut their target price back from $13.00 to $12.00 Aug. 8, they now have an outperform rating on the stock. Analysts at Scotiabank have a $11.00 price target on the stock. Shares of Killam stock opened Thursday, Aug. 14 at $10.64. The company has a market cap of $582.0 million and a P/E ratio of 15.88. The company’s second quarter earnings per share matched Reuters consensus of $0.18. As MHProNews knows, Killam is one of Canada’s largest owners and operators of manufactured housing communities. ##

(Photo credit: Killam Properties, Inc.)