Killam Apartment REIT (TSE:KMP.UN) Shares Pass Below 50 Day Moving Average – Here’s What Happened

Killam Apartment REIT (TSE:KMP.UN)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$18.52 and traded as low as C$17.00. Killam Apartment REIT shares last traded at C$17.09, with a volume of 79,480 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have commented on KMP.UN shares. Raymond James upgraded Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from C$22.50 to C$24.00 in a research note on Friday, September 6th. TD Securities boosted their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Royal Bank of Canada decreased their target price on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. Finally, National Bankshares boosted their price target on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$22.55.

Killam Apartment REIT Stock Up 0.3 %

The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The firm’s 50 day moving average price is C$18.52 and its two-hundred day moving average price is C$18.78. The company has a market capitalization of C$2.03 billion, a price-to-earnings ratio of 6.57 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were given a dividend of $0.0583 per share. This represents a $0.70 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Thursday, October 31st. Killam Apartment REIT’s dividend payout ratio (DPR) is presently 26.92%.

About Killam Apartment REIT

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating, managing and developing a $2.8 billion portfolio of apartments and manufactured home communities. Killam's strategy to enhance value and profitability focuses on three priorities: 1) increasing earnings from existing operations, 2) expanding the portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.