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Derived from payout historyIncome reliability
Monthly income profile is visible
KMP-UN.TO has an income profile aligned with its reit role. Provider data shows 12 recent payout records.
Market dataIncome framework read
REITTSXCanada
KMP-UN.TO
Killam Apartment REIT
Real EstateREIT distributionMonthly
Market Snapshot
$18.71
-$0.09 (-47.87%)
Toronto
Yield
3.83%
Rate $0.72
Next Payment
—
Ex-date 2026-08-31
52wk Position
85.96%
-2.60% below high
Updated —
Decision Area
Distribution and DRIP Defense
Payout history, default DRIP coverage, and price creep pressure using market data where available.
Distribution Chart
Last 12 payments
Confirmed Expected
Coverage Ratio Test
DRIP defense check
- Cash
- $6.00
- APR
- 0.321
- Coverage
- 0.321
Rung failed. Restore immediately or rebalance the holding.
Price Creep
Defended price ceiling
- Max defended
- $6.00
- Cushion
- -$12.71
- Cushion %
- -67.93%
Current $18.71Break $6.00
Smart Recommendation
KMP-UN.TO is not defended at these inputs; top up shares, lower TPR, or test alternatives.
Research Signals
Payout sustainability
Strong and improving, 68% rolling 12-month AFFO payout (down from 70%)
1mo agoDRIP availability
Suspended effective April 24, 2026 (company-announced), redirected to unit buybacks
1mo agoTax character
Trust distribution, likely partial ROC
1mo agoDistribution history
Flat at $0.06/unit monthly since at least Dec 2024; no increase identified, capital redirected to NCIB instead
1mo agoStructure complexity
Low-moderate, active development pipeline
1mo agoIncome trend
Growing
1mo agoAccount suitability
TFSA/RRSP suitable
1mo agoStructure Overview
Killam Apartment REIT (KMP.UN) is a Canadian residential REIT based in Halifax, with an active development pipeline including The Carrick (Waterloo, ON, fully leased) and Brightwood (Waterloo, ON, completed ahead of schedule). Q1 2026 results showed AFFO per unit of $0.24, up 4.3% year-over-year, and FFO per unit of $0.28, up 3.0%, with same-property NOI growth of 3.9% and occupancy of 97.0%. Effective April 24, 2026, Killam suspended its Distribution Reinvestment Plan to maximize the effectiveness of its Normal Course Issuer Bid; Q1 2026 was the most active NCIB quarter in the trust's history, with 400,601 units repurchased at a weighted average $16.44, a meaningful discount to net asset value.
Canadian Planning Notes
- 1Killam's DRIP is currently suspended (effective April 24, 2026, until further notice) -- investors relying on dividend reinvestment for this holding should confirm current status directly with Killam or their broker before assuming DRIP participation is available.
- 2The monthly distribution has been flat since at least December 2024; this reflects a deliberate capital-allocation choice toward unit buybacks while units trade below net asset value, not distribution weakness.
- 3Debt-to-normalized-EBITDA of 9.71x is on the higher side for the sector and worth monitoring alongside the trust's active disposition and buyback program.
Market Facts
Market Data
A factual market, distribution, valuation, and financial snapshot for this holding.
Canadian Context
Account placement
TFSA
REIT distributions can mix income, capital gains, eligible dividends, and return of capital. Sheltering the holding avoids annual T3 complexity.
RRSP: Also shelters distribution complexity when TFSA room is limited.
Eligible dividend tax credit
- Total credit
- $345.27
- Effective rate
- 34.53%
Broker DRIP status
Questrade
Available
Wealthsimple
Available
RBC Direct Investing
Available
TD Direct Investing
Available
Run Your Numbers
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This profile is informational only and does not constitute licensed financial advice. Signal values, planning notes, market data, and structure summaries may not reflect the most current issuer disclosures. Always verify current payout policy, ex-dividend dates, financial statements, and issuer communications before making any investment decision.