BOWFF - Killam Apartment REIT: Bargains Galore In Apartment Landlords
2025-05-15 02:34:52 ET
Summary
- Killam REIT derives the majority of its revenue from multifamily apartment properties.
- It is the largest landlord of its kind in Atlantic Canada.
- We review the first quarter numbers to see if the storyline remains unchanged from our previous coverage.
All values are in CAD unless noted otherwise.
Killam Apartment REIT (KMP.UN:CA) owns and operates a portfolio of apartment buildings. As per the most recent data , the multi-resident apartment portfolio accounts for 90.5% of the net operating income [NOI] for Killam. The balance is bought in by manufactured home communities [MHCs] (4.2%) and commercial properties (5.3%). This REIT has the distinction of having the largest residential presence in Atlantic Canada, with 174 of its 217 apartment properties located in the provinces of Nova Scotia, New Brunswick, Newfoundland and Labrador and Prince Edward Island. Ontario houses 27 properties, followed by 11 in Alberta and 5 in British Columbia. Over the last few years, Killam has been increasing its presence outside Atlantic Canada. The following graphic shows the progress made by this REIT since 2018 and where it plans to be positioned in 2028....
Killam Apartment REIT: Bargains Galore In Apartment Landlords