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

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$18.63 and traded as low as C$16.50. Killam Apartment REIT shares last traded at C$16.55, with a volume of 299,108 shares.

Analysts Set New Price Targets

KMP.UN has been the topic of a number of research reports. Raymond James dropped their price target on Killam Apartment REIT from C$22.25 to C$21.50 in a research note on Friday. Royal Bank of Canada lowered their target price on Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$22.50.

Killam Apartment REIT Stock Performance

The company's 50-day simple moving average is C$16.95 and its 200 day simple moving average is C$18.57. The stock has a market cap of C$1.92 billion, a P/E ratio of 6.22 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 Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be issued a $0.06 dividend. This is an increase from Killam Apartment REIT's previous monthly dividend of $0.06. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, January 31st. Killam Apartment REIT's payout ratio is 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.