Killam Apartment REIT (TSE:KMP.UN) Shares Pass Below 200 Day Moving Average - Here's Why

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$17.52 and traded as low as C$16.77. Killam Apartment REIT shares last traded at C$16.82, with a volume of 351,226 shares trading hands.

Analysts Set New Price Targets

Separately, Raymond James cut their target price on shares of Killam Apartment REIT from C$22.25 to C$21.50 in a research note on Friday, February 14th.

Killam Apartment REIT Price Performance

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 company has a 50 day moving average of C$16.76 and a 200-day moving average of C$17.42. The firm has a market capitalization of C$2.03 billion, a P/E ratio of 6.56 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 4.22%. The ex-dividend date is Wednesday, April 30th. Killam Apartment REIT's dividend payout ratio is currently 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.