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

Killam Apartment REIT (TSE:KMP.UN) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$17.60 and traded as low as C$16.76. Killam Apartment REIT shares last traded at C$16.89, with a volume of 102,826 shares trading hands.

Analyst Upgrades and Downgrades

KMP.UN has been the subject of a number of recent analyst reports. Raymond James reduced their price target on shares of Killam Apartment REIT from C$23.50 to C$22.25 in a research report on Monday, January 13th. 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. Finally, National Bankshares increased their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$22.38.

Killam Apartment REIT Price Performance

The business has a 50-day moving average of C$17.57 and a two-hundred day moving average of C$18.74. 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 firm has a market cap of C$1.98 billion, a P/E ratio of 6.38 and a beta of 1.10.

Killam Apartment REIT Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be given a dividend of $0.06 per share. This is a positive change from Killam Apartment REIT’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.72 annualized dividend and a dividend yield of 4.34%. Killam Apartment REIT’s dividend payout ratio is presently 26.92%.

Killam Apartment REIT Company Profile

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.