Killam Apartment REIT (TSE:KMP.UN) Share Price Crosses Below 50-Day Moving Average of $17.27

Killam Apartment REIT (TSE:KMP.UN) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$17.27 and traded as low as C$17.15. Killam Apartment REIT shares last traded at C$17.21, with a volume of 88,374 shares traded.

Analyst Ratings Changes

KMP.UN has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on Killam Apartment REIT from C$23.50 to C$24.00 in a research note on Thursday, May 9th. TD Securities reduced their price objective on Killam Apartment REIT from C$23.00 to C$22.00 in a research report on Wednesday, April 24th. Raymond James lowered their price objective on Killam Apartment REIT from C$22.75 to C$21.75 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. National Bankshares cut their target price on Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, Scotiabank lowered their price target 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. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$21.93.

Killam Apartment REIT Price Performance

The business’s 50-day simple moving average is C$17.27 and its 200 day simple moving average is C$18.06. The company has a market capitalization of C$2.04 billion, a P/E ratio of 6.59 and a beta of 1.06. The company has a current ratio of 0.11, a quick ratio of 0.03 and a debt-to-equity ratio of 85.23.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 15th will be issued a dividend of $0.0583 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.70 annualized dividend and a yield of 4.07%. Killam Apartment REIT’s payout ratio is 26.82%.

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.