Killam Apartment REIT (TSE:KMP.UN) Share Price Crosses Below Fifty Day Moving Average of $18.75

Killam Apartment REIT (TSE:KMP.UN) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$18.75 and traded as low as C$16.70. Killam Apartment REIT shares last traded at C$16.85, with a volume of 116,443 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on KMP.UN shares. Laurentian lowered shares of Killam Apartment REIT from a “buy” rating to a “hold” rating and set a C$20.50 price objective for the company. in a research report on Monday, January 22nd. Scotiabank cut their price objective on shares of Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating for the company in a research report on Monday, March 25th. BMO Capital Markets upped their price objective on shares of Killam Apartment REIT from C$20.50 to C$22.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Royal Bank of Canada upped their price objective on shares of Killam Apartment REIT from C$23.00 to C$23.50 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, CIBC upped their price objective on shares of Killam Apartment REIT from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$22.20.

Killam Apartment REIT Trading Up 0.2 %

The business’s 50 day simple moving average is C$18.70 and its 200-day simple moving average is C$17.98. The company has a debt-to-equity ratio of 88.09, a current ratio of 0.08 and a quick ratio of 0.03. The stock has a market capitalization of C$1.99 billion, a P/E ratio of 7.49 and a beta of 1.05.

Killam Apartment REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.0583 per share. This represents a $0.70 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Monday, April 29th. Killam Apartment REIT’s dividend payout ratio is presently 31.11%.

Killam Apartment REIT Company Profile

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.