Killam Apartment REIT (TSE:KMP.UN) Shares Pass Below Fifty Day Moving Average - What's Next?

Killam Apartment REIT (TSE:KMP.UN - Get Free Report)'s stock price crossed 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 trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KMP.UN shares. Royal Bank of Canada upped their target price 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 raised their price objective for the company from C$22.50 to C$24.00 in a report on Friday, September 6th. National Bankshares boosted their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. TD Securities increased their target price on Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Finally, Ventum Financial lifted their price target on Killam Apartment REIT from C$22.50 to C$23.00 in a report on Friday, August 9th. Two 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 stock. According to data from MarketBeat.com, Killam Apartment REIT has an average rating of "Moderate Buy" and a consensus target price of C$22.45.

Killam Apartment REIT Stock Performance

The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05. The stock has a fifty day moving average price of C$20.23 and a 200-day moving average price of C$18.54. The firm has a market cap of C$2.29 billion, a price-to-earnings ratio of 7.41 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be issued a $0.0583 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Thursday, October 31st. Killam Apartment REIT's dividend payout ratio is presently 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.