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

Shares of Killam Apartment REIT (TSE:KMP.UN) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$16.73 and traded as high as C$17.98. Killam Apartment REIT shares last traded at C$17.94, with a volume of 354,547 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KMP.UN shares. Raymond James Financial boosted their target price on Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock an “outperform” rating in a research note on Friday, May 8th. TD boosted their target price on Killam Apartment REIT from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. National Bank Financial boosted their target price on Killam Apartment REIT from C$19.75 to C$20.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. TD Securities dropped their target price on Killam Apartment REIT from C$21.00 to C$20.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Finally, Royal Bank Of Canada boosted their target price on Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$20.23.

Killam Apartment REIT Trading Down 0.2%

The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10. The company has a 50 day simple moving average of C$16.73 and a two-hundred day simple moving average of C$16.86. The firm has a market cap of C$2.19 billion, a PE ratio of -91.86 and a beta of 0.60.

Killam Apartment REIT (TSE:KMP.UN) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.41 earnings per share for the quarter. The business had revenue of C$96.68 million for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%. Analysts expect that Killam Apartment REIT will post 1.2904074 EPS for the current fiscal year.

Killam Apartment REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, May 29th. Killam Apartment REIT’s payout ratio is presently -368.68%.

About Killam Apartment REIT

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada’s largest residential real estate investment trusts, owning, operating and developing a $5.4 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 which target newer properties and through the disposition of non-core assets, and 3) developing high-quality properties in its core markets.