Killam Apartment REIT (TSE:KMP.UN) Stock Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Killam Apartment REIT shares fell below their 50-day moving average, trading as low as C$18.33 and last changing hands at C$18.40, down 1.2%.
• Analysts remain bullish: seven analysts rate the stock a Buy, with a consensus target price of C$20.44 versus its recent trading price.
• The REIT reported quarterly revenue of C$99.16 million and EPS of C$0.53, while maintaining a monthly dividend of C$0.06, equivalent to an annualized yield of about 3.9%.

Shares of Killam Apartment REIT (TSE:KMP.UN - Get Free Report) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$18.75 and traded as low as C$18.33. Killam Apartment REIT shares last traded at C$18.40, with a volume of 137,372 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on KMP.UN shares. National Bank Financial lifted their target price on shares of Killam Apartment REIT from C$19.75 to C$20.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Royal Bank Of Canada raised their price target on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Scotia lifted their price objective on Killam Apartment REIT from C$20.00 to C$20.25 and gave the company a "sector outperform" rating in a report on Friday, August 7th. TD increased their target price on Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Raymond James Financial raised their target price on Killam Apartment REIT from C$21.00 to C$21.25 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$20.44.

Killam Apartment REIT Stock Down 1.2%

The firm has a market capitalization of C$2.21 billion, a price-to-earnings ratio of 273.48 and a beta of 0.79. The firm has a fifty day moving average price of C$18.75 and a 200 day moving average price of C$17.69. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$0.53 EPS for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%.The company had revenue of C$99.16 million for the quarter. Sell-side analysts anticipate that Killam Apartment REIT will post 1.2904074 EPS for the current fiscal year.

Killam Apartment REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were given a $0.06 dividend. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, July 31st. Killam Apartment REIT's dividend payout ratio (DPR) is presently 1,070.15%.

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.

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