Killam Apartment REIT (TSE:KMP.UN) Shares Pass Below Fifty Day Moving Average – Should You Sell?

Killam Apartment REIT (TSE:KMP.UN) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$20.22 and traded as low as C$19.39. Killam Apartment REIT shares last traded at C$19.44, with a volume of 460,885 shares traded.

Analyst Upgrades and Downgrades

KMP.UN has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on Killam Apartment REIT from C$22.00 to C$23.00 in a research report on Friday, August 9th. Ventum Financial lifted their target price on Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. TD Securities lifted their target price on Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. National Bankshares lifted their target price on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Finally, Raymond James raised Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from C$22.50 to C$24.00 in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$22.45.

Killam Apartment REIT Price Performance

The company has a 50 day moving average price of C$20.22 and a 200 day moving average price of C$18.53. The company has a market capitalization of C$2.31 billion, a P/E ratio of 7.48 and a beta of 1.10. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be paid a $0.0583 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.70 annualized dividend and a yield of 3.60%. Killam Apartment REIT’s dividend payout ratio (DPR) is presently 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.