Killam Apartment REIT (TSE:KMP.UN) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Killam Apartment REIT (TSE:KMP.UN) shares 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 trading hands.

Analyst Upgrades and Downgrades

KMP.UN has been the topic of several research analyst reports. Royal Bank of Canada decreased their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th. TD Securities raised their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Raymond James upgraded shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from C$22.50 to C$24.00 in a research report on Friday, September 6th. Finally, National Bankshares increased their price target on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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 fifty day moving average price is C$18.52 and its 200-day moving average price is C$18.78. The company has a market cap 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 announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were paid a $0.0583 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.09%. Killam Apartment REIT’s payout ratio is 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.