Killam Apartment REIT Valuation

Is KMP.UN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of KMP.UN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KMP.UN (CA$19.64) is trading below our estimate of fair value (CA$27.7)

Significantly Below Fair Value: KMP.UN is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for KMP.UN?

Other financial metrics that can be useful for relative valuation.

KMP.UN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue12.7x
Enterprise Value/EBITDA21.2x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does KMP.UN's PE Ratio compare to its peers?

The above table shows the PE ratio for KMP.UN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.7x
BEI.UN Boardwalk Real Estate Investment Trust
5.9xn/aCA$4.3b
MRG.UN Morguard North American Residential Real Estate Investment Trust
4.9xn/aCA$1.0b
ERE.UN European Residential Real Estate Investment Trust
6.7xn/aCA$743.5m
CRR.UN Crombie Real Estate Investment Trust
25.3xn/aCA$2.8b
KMP.UN Killam Apartment REIT
7.6xn/aCA$2.4b

Price-To-Earnings vs Peers: KMP.UN is good value based on its Price-To-Earnings Ratio (7.6x) compared to the peer average (10.7x).


Price to Earnings Ratio vs Industry

How does KMP.UN's PE Ratio compare vs other companies in the Global Residential REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a3.8%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a3.8%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: KMP.UN is good value based on its Price-To-Earnings Ratio (7.6x) compared to the Global Residential REITs industry average (23.6x).


Price to Earnings Ratio vs Fair Ratio

What is KMP.UN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KMP.UN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate KMP.UN's Price-To-Earnings Fair Ratio for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst KMP.UN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$19.99
CA$22.94
+14.7%
4.9%CA$24.50CA$20.50n/a12
Oct ’25CA$20.83
CA$22.75
+9.2%
4.5%CA$24.50CA$20.50n/a12
Sep ’25CA$19.93
CA$22.52
+13.0%
4.3%CA$24.50CA$20.50n/a12
Aug ’25CA$18.65
CA$22.10
+18.5%
3.7%CA$24.00CA$20.25n/a12
Jul ’25CA$17.04
CA$22.00
+29.1%
3.9%CA$24.00CA$20.25n/a11
Jun ’25CA$17.25
CA$22.04
+27.8%
3.8%CA$24.00CA$20.25n/a12
May ’25CA$17.07
CA$22.13
+29.6%
3.7%CA$23.50CA$20.50n/a12
Apr ’25CA$18.22
CA$22.40
+22.9%
3.7%CA$23.50CA$20.50n/a12
Mar ’25CA$19.26
CA$22.40
+16.3%
3.5%CA$23.50CA$21.00n/a12
Feb ’25CA$19.10
CA$21.48
+12.5%
4.7%CA$23.50CA$20.00n/a13
Jan ’25CA$17.96
CA$21.33
+18.7%
4.7%CA$23.50CA$20.00n/a13
Dec ’24CA$17.44
CA$21.04
+20.6%
3.9%CA$23.00CA$20.00n/a13
Nov ’24CA$16.12
CA$21.21
+31.6%
4.4%CA$23.50CA$20.00n/a13
Oct ’24CA$17.42
CA$21.66
+24.3%
4.6%CA$23.50CA$19.50CA$20.8314
Sep ’24CA$18.40
CA$21.66
+17.7%
4.6%CA$23.50CA$19.50CA$19.9314
Aug ’24CA$18.12
CA$21.14
+16.7%
5.0%CA$23.00CA$18.50CA$18.6514
Jul ’24CA$17.66
CA$21.29
+20.5%
5.0%CA$23.00CA$18.50CA$17.0414
Jun ’24CA$17.54
CA$21.29
+21.4%
5.0%CA$23.00CA$18.50CA$17.2514
May ’24CA$16.98
CA$21.14
+24.5%
4.4%CA$22.00CA$18.50CA$17.0714
Apr ’24CA$17.16
CA$21.14
+23.2%
4.4%CA$22.00CA$18.50CA$18.2214
Mar ’24CA$17.96
CA$21.14
+17.7%
4.4%CA$22.00CA$18.50CA$19.2614
Feb ’24CA$18.75
CA$20.66
+10.2%
5.4%CA$22.00CA$18.50CA$19.1014
Jan ’24CA$16.21
CA$20.41
+25.9%
5.4%CA$21.50CA$18.00CA$17.9614
Dec ’23CA$17.01
CA$20.48
+20.4%
5.2%CA$21.50CA$18.00CA$17.4414
Nov ’23CA$15.80
CA$21.09
+33.5%
6.2%CA$23.00CA$18.00CA$16.1214
Oct ’23CA$15.25
CA$21.89
+43.6%
6.0%CA$25.50CA$20.00CA$17.4214

Analyst Forecast: Target price is less than 20% higher than the current share price.


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