Killam Apartment REIT (TSE:KMP.UN) Shares Break Below 50 Day Moving Average – Time to Sell?

Killam Apartment REIT (TSE:KMP.UN) crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of C$17.71 and traded as low as C$17.30. Killam Apartment REIT shares last traded at C$17.39, with a volume of 124,912 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Scotia upped their price objective on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 7th. Raymond James Financial raised their target price on shares of Killam Apartment REIT from C$21.00 to C$21.25 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, TD lifted their target price on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$20.44.

Killam Apartment REIT Trading Up 0.2%

The firm has a market cap of C$2.09 billion, a P/E ratio of 258.46 and a beta of 0.79. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The stock has a 50 day moving average of C$17.71 and a 200 day moving average of C$17.93.

Killam Apartment REIT (TSE:KMP.UN) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$0.53 earnings per share for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%. The business had revenue of C$99.16 million for the quarter. As a group, equities research analysts predict that Killam Apartment REIT will post 1.29 EPS for the current year.

Killam Apartment REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, October 30th. This represents a $0.72 annualized dividend and a dividend yield of 4.1%. Killam Apartment REIT’s dividend payout ratio is 1,070.11%.

About Killam Apartment REIT

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada’s largest residential real estate investment trusts, owning, operating and developing a $5.4 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 which target newer properties and through the disposition of non-core assets, and 3) developing high-quality properties in its core markets.