Killam Apartment REIT (TSE:KMP.UN) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of Killam Apartment REIT (TSE:KMP.UN) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KMP.UN shares. 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 dropped their price objective on shares of Killam Apartment REIT from C$23.50 to C$22.25 in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Killam Apartment REIT has a consensus rating of “Buy” and an average target price of C$22.58.

Killam Apartment REIT Stock Down 0.6 %

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 simple moving average is C$17.07 and its 200-day simple moving average is C$18.63. The firm has a market capitalization of C$1.97 billion, a P/E ratio of 6.37 and a beta of 1.10.

Killam Apartment REIT Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be given a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.35%. This is an increase from Killam Apartment REIT’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Friday, January 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.