Killam Apartment REIT (TSE:KMP.UN) Share Price Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• Killam Apartment REIT stock has fallen below its 200-day moving average, trading as low as C$17.65, with a current price of C$17.66.
• Analyst ratings show mixed opinions, with target price adjustments ranging from C$20.50 to C$22.00, indicating both "outperform" and "buy" ratings.
• The company has declared a monthly dividend of $0.06 per share, representing an annualized yield of 4.1% with a payout ratio of 26.92%.

Shares of Killam Apartment REIT (TSE:KMP.UN - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.83 and traded as low as C$17.65. Killam Apartment REIT shares last traded at C$17.66, with a volume of 386,934 shares.

Analyst Ratings Changes

A number of research firms have commented on KMP.UN. BMO Capital Markets raised their target price on shares of Killam Apartment REIT from C$19.50 to C$20.00 in a research report on Monday, May 12th. TD Securities raised 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 8th. Canaccord Genuity Group downgraded shares of Killam Apartment REIT from a "buy" rating to a "hold" rating and raised their target price for the company from C$19.25 to C$20.00 in a research report on Friday, August 1st. Finally, Scotiabank cut their target price 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 report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$21.64.

Killam Apartment REIT Price Performance

The stock's 50-day simple moving average is C$18.73 and its 200 day simple moving average is C$17.88. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05. The company has a market cap of C$2.10 billion, a price-to-earnings ratio of 6.79 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 15th were given a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, July 31st. Killam Apartment REIT's dividend payout ratio is currently 26.92%.

About Killam Apartment REIT

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.