04:27 PM EDT, 03/24/2026 (MT Newswires) -- Killam Apartment REIT (KMP-UN.TO) after trade Tuesday said it plans to speed up its portfolio optimization by increasing its 2026 asset sale target to $100 million to $150 million from $50 million.

The proceeds will be used to buy back and cancel units under its normal course issuer bid (NCIB) program and for strategic acquisitions, the company added.

To support the NCIB, the company will suspend its Distribution Reinvestment Plan (DRIP) starting April 24. Unitholders currently in the plan will receive cash distributions instead, beginning in April, the company said.

Killam also announced a monthly distribution of $0.06 per unit, the same as the previous one. It is payable on April 15 to unitholders on record as of March 31.

The REIT's units closed up $0.22 to $16.03 on the Toronto Stock Exchange.