TSX:KMP.UN's Earnings Yield (Joel Greenblatt) % is ranked better than 83.28% of 897
companies
in the REITs industry
Industry Median: 2.79
vs TSX:KMP.UN: 8.64
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Killam Apartment Real Estate Investment Trust's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was -1.27%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Killam Apartment Real Estate Investment Trust Earnings Yield (Joel Greenblatt) % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Killam Apartment Real Estate Investment Trust's Earnings Yield (Joel Greenblatt) %
For the REIT - Residential subindustry, Killam Apartment Real Estate Investment Trust's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Killam Apartment Real Estate Investment Trust's Earnings Yield (Joel Greenblatt) % Distribution in the REITs Industry
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Killam Apartment Real Estate Investment Trust's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was C$365.0 Mil.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Killam Apartment Real Estate Investment Trust Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Killam Apartment Real Estate Investment Trust's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Killam Apartment Real Estate Investment Trust (TSX:KMP.UN) Business Description
Killam Apartment Real Estate Investment Trust is an open-ended mutual fund trust. The company specializes in the acquisition, management, and development of multi-residential apartment buildings and manufactured home communities (MHCs) and commercial properties in Canada. It has three operating segments, Apartment segment, MHC segment, and Commercial segment. The apartment segment acquires, operates, manages and develops multi-family residential properties across Canada. The MHC segment acquires and operates MHC communities in Ontario and Eastern Canada, and the Commercial segment includes eight commercial properties.
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