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

Shares of Killam Apartment REIT (TSE:KMP.UN) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 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 traded.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. National Bankshares raised their price objective on Killam Apartment REIT from C$22.00 to C$22.75 and gave the company an “outperform” rating in a research note on Friday, February 16th. Desjardins raised their price target on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Scotiabank reduced their target price on Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating on the stock in a report on Monday, March 25th. BMO Capital Markets lifted their target price on Killam Apartment REIT from C$20.50 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Laurentian cut Killam Apartment REIT from a “buy” rating to a “hold” rating and set a C$20.50 target price on the stock. in a report on Monday, January 22nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$22.20.

Killam Apartment REIT Stock Performance

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 company has a fifty day moving average of C$18.70 and a two-hundred day moving average of C$17.98. 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 Dividend Announcement

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

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.