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

Killam Apartment REIT (TSE:KMP.UN)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$18.73 and traded as low as C$18.48. Killam Apartment REIT shares last traded at C$18.49, with a volume of 223,326 shares changing hands.

Analysts Set New Price Targets

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

Killam Apartment REIT Price Performance

The company has a market cap of C$2.20 billion, a PE ratio of 272.00 and a beta of 0.79. The firm has a 50 day simple moving average of C$18.72 and a 200-day simple moving average of C$17.76. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT (TSE:KMP.UN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$0.53 EPS 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. As a group, research analysts predict that Killam Apartment REIT will post 1.2904074 earnings per share for the current fiscal year.

Killam Apartment REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were issued a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, July 31st. Killam Apartment REIT’s dividend payout ratio is currently 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.