Killam Apartment REIT (TSE:KMP.UN) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Killam Apartment REIT (TSE:KMP.UN)’s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$18.52 and traded as low as C$17.12. Killam Apartment REIT shares last traded at C$17.19, with a volume of 269,374 shares traded.

Wall Street Analyst Weigh In

Several research firms have issued reports on KMP.UN. Raymond James Financial upped their target price on shares of Killam Apartment REIT from C$21.00 to C$21.25 and gave the company an “outperform” rating in a research note on Friday, August 7th. TD lifted their price target on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Scotia boosted their price objective on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the company a “sector outperform” rating in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Killam Apartment REIT presently has an average rating of “Buy” and an average price target of C$20.44.

Killam Apartment REIT Trading Up 1.1%

The stock has a market capitalization of C$2.08 billion, a PE ratio of 258.31 and a beta of 0.78. 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 stock has a 50 day moving average price of C$18.49 and a 200-day moving average price of C$17.79.

Killam Apartment REIT (TSE:KMP.UN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported C$0.53 EPS for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%.The company had revenue of C$99.16 million during the quarter. Sell-side analysts expect that Killam Apartment REIT will post 1.2904074 earnings per share for the current year.

Killam Apartment REIT Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were paid a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, July 31st. Killam Apartment REIT’s payout ratio is currently 1,070.11%.

Killam Apartment REIT Company Profile

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.