Killam Apartment REIT (TSE:KMP.UN) Sets New 1-Year Low After Analyst Downgrade

Killam Apartment REIT (TSE:KMP.UN - Get Free Report)'s stock price reached a new 52-week low during trading on Monday after Raymond James lowered their price target on the stock from C$23.50 to C$22.25. The stock traded as low as C$16.59 and last traded at C$16.61, with a volume of 44837 shares traded. The stock had previously closed at C$16.79.

KMP.UN has been the topic of a number of other reports. Royal Bank of Canada lowered their price objective on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. National Bankshares boosted their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Two equities 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$22.38.

Killam Apartment REIT Stock Performance

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's 50-day moving average price is C$17.76 and its 200-day moving average price is C$18.76. The company has a market capitalization of C$1.99 billion, a P/E ratio of 6.43 and a beta of 1.10.

Killam Apartment REIT Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were paid a dividend of $0.0583 per share. This represents a $0.70 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, October 31st. Killam Apartment REIT's payout ratio is currently 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.