Killam Apartment REIT (TSE:KMP.UN) Shares Cross Below Fifty Day Moving Average - Time to Sell?

Key Points

• Killam Apartment REIT's stock price has fallen below its fifty-day moving average, hitting a low of C$18.08 during trading, with the current price at C$18.15.
• Analyst ratings vary, with BMO Capital Markets raising the price target to C$20.00, while Canaccord Genuity downgraded it to a "hold" rating but increased their price target to C$20.00.
• The REIT recently announced a monthly dividend of $0.06 per share, reflecting an annualized dividend yield of 4.0%, with a payout ratio of 15.28%.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$18.45 and traded as low as C$18.08. Killam Apartment REIT shares last traded at C$18.15, with a volume of 138,753 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KMP.UN. TD Securities boosted their price objective on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Canaccord Genuity Group cut shares of Killam Apartment REIT from a "buy" rating to a "hold" rating and upped their price target for the stock from C$19.25 to C$20.00 in a research note on Friday, August 1st. Finally, Scotiabank lowered their price target on shares of Killam Apartment REIT from C$20.75 to C$20.50 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$21.64.

Killam Apartment REIT Stock 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 firm has a market capitalization of C$2.20 billion, a price-to-earnings ratio of 3.89 and a beta of 1.01. The stock's 50 day moving average price is C$18.32 and its two-hundred day moving average price is C$18.03.

Killam Apartment REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 15th were paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 31st. Killam Apartment REIT's dividend payout ratio is presently 15.28%.

Killam Apartment REIT Company Profile

Killam Apartment Real Estate Investment Trust is an open-ended mutual fund trust. The company specializes in the acquisition, management, and development of multi-residential apartment buildings and manufactured home communities (MHC). It has three main operating segments, Apartment segment, MHC segment, and Commercial segments.