Killam Apartment REIT Q2 NOI up 6.7%, AFFO per unit rises 8%

Killam Apartment REIT

06/08/2025 22:34

Overview

Killam Q2 same property revenue up 6%, NOI grows 6.7% yr/yr

FFO per unit rises 6.7%, AFFO per unit up 8% yr/yr

Net income declines due to lower fair value gains on investment properties

Outlook

Killam expects 2025 same property NOI growth above 6%

Company anticipates continued positive AFFO trajectory in 2025

Result Drivers

LEASING PERFORMANCE - Strong leasing activity in Q2 led to 6.0% same property revenue growth

CAPITAL RECYCLING - Sale of older properties supports acquisition of newer, efficient buildings, boosting AFFO per unit by 8%

DEBT METRICS - Improved debt-to-total assets ratio to 39.6%, marking the sixth consecutive quarter of improvement

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Property Revenue
C$95.65 mln
Q2 Net Income
C$33.13 mln
Q2 FFO
C$39.40 mln
Q2 Operating Income
C$64.08 mln
Q2 Same Property Revenue Growth
6.0%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the residential reits peer group is "buy"

Wall Street's median 12-month price target for Killam Apartment REIT is C$21.50, about 15.2% above its August 5 closing price of C$18.23

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nCNWJ9sDba

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)