Killam Apartment REIT (TSE:KMP.UN) Share Price Passes Below 50-Day Moving Average – What’s Next?

Shares of Killam Apartment REIT (TSE:KMP.UN) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$18.75 and traded as low as C$18.33. Killam Apartment REIT shares last traded at C$18.40, with a volume of 137,372 shares.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KMP.UN shares. National Bank Financial increased their target price on shares of Killam Apartment REIT from C$19.75 to C$20.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Scotia boosted their price target on Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock a “sector outperform” rating in a research note on Friday, August 7th. Raymond James Financial upped their price target on Killam Apartment REIT from C$21.00 to C$21.25 and gave the stock an “outperform” rating in a report on Friday, August 7th. Royal Bank Of Canada raised their price objective on Killam Apartment REIT from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, TD lifted their price objective on Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$20.44.

Killam Apartment REIT Trading Up 2.2%

The stock has a market cap of C$2.26 billion, a PE ratio of 279.73 and a beta of 0.79. The business has a 50-day moving average of C$18.74 and a 200 day moving average of C$17.70. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10.

Killam Apartment REIT (TSE:KMP.UN) last announced its earnings results on Wednesday, August 5th. The company reported C$0.53 earnings per share for the quarter. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%. The firm had revenue of C$99.16 million during the quarter. Equities research analysts predict that Killam Apartment REIT will post 1.2904074 EPS for the current fiscal year.

Killam Apartment REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 3.8%. Killam Apartment REIT’s dividend payout ratio is presently 1,070.15%.

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.