Killam Apartment REIT (TSE:KMP.UN) Stock Price Crosses Above Fifty Day Moving Average - Should You Sell?

Killam Apartment REIT (TSE:KMP.UN - Get Free Report)'s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$20.09 and traded as high as C$20.53. Killam Apartment REIT shares last traded at C$20.32, with a volume of 303,383 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KMP.UN. Royal Bank of Canada increased their price target on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a research note on Friday, August 9th. Raymond James upgraded shares of Killam Apartment REIT from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from C$22.50 to C$24.00 in a research note on Friday, September 6th. National Bankshares boosted their price target on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. TD Securities increased their price objective on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Finally, Ventum Financial boosted their target price on Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$22.45.

Killam Apartment REIT Price Performance

The stock has a fifty day moving average of C$20.09 and a two-hundred day moving average of C$18.45. The stock has a market cap of C$2.38 billion, a price-to-earnings ratio of 7.82 and a beta of 1.10. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be issued a $0.0583 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.50%. Killam Apartment REIT's dividend payout ratio 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.