Killam Apartment REIT (TSE:KMP.UN) Stock Price Crosses Below 50 Day Moving Average - Here's Why

Killam Apartment REIT (TSE:KMP.UN - Get Free Report)'s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$18.52 and traded as low as C$17.00. Killam Apartment REIT shares last traded at C$17.09, with a volume of 79,480 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KMP.UN shares. TD Securities lifted their price target on shares of 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. Royal Bank of Canada dropped their target price on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th. Raymond James upgraded Killam Apartment REIT from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from C$22.50 to C$24.00 in a research note on Friday, September 6th. Finally, National Bankshares lifted their price objective on Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$22.55.

Killam Apartment REIT Trading Up 0.3 %

The business's 50-day simple moving average is C$18.47 and its two-hundred day simple moving average is C$18.76. 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 company has a market capitalization of C$2.03 billion, a PE ratio of 6.57 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were given a $0.0583 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.70 annualized dividend and a dividend yield of 4.09%. Killam Apartment REIT's payout ratio is 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.