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

Killam Apartment REIT (TSE:KMP.UN)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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 changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. National Bankshares lifted their price objective on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. TD Securities boosted 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 Wednesday, September 4th. Raymond James raised Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from C$22.50 to C$24.00 in a report on Friday, September 6th. Finally, Royal Bank of Canada reduced their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Killam Apartment REIT presently has a consensus rating of “Moderate Buy” and an average price target of C$22.55.

Killam Apartment REIT Price Performance

The company’s 50 day moving average price is C$18.42 and its 200 day moving average price is C$18.76. 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 market cap of C$2.03 billion, a price-to-earnings ratio of 6.57 and a beta of 1.10.

Killam Apartment REIT Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were paid a $0.0583 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.70 annualized dividend and a dividend yield of 4.09%. Killam Apartment REIT’s dividend payout ratio (DPR) is currently 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.