Killam Apartment REIT (TSE:KMP.UN) Share Price Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Shares of Killam Apartment REIT (TSE: KMP.UN) recently fell below its 50-day moving average of C$18.60, trading as low as C$17.72.
• Analysts have mixed ratings on the stock, with one Strong Buy, two Buy, and one Hold, reflecting a general average rating of "Buy" and a target price of C$21.64.
• The company declared a monthly dividend of $0.06, translating to an annualized yield of 4.0%, with a low payout ratio of 15.28%.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report)'s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$18.60 and traded as low as C$17.72. Killam Apartment REIT shares last traded at C$17.97, with a volume of 332,250 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KMP.UN shares. Scotiabank reduced their price target on shares of Killam Apartment REIT from C$20.75 to C$20.50 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Canaccord Genuity Group cut shares of Killam Apartment REIT from a "buy" rating to a "hold" rating and boosted their price target for the stock from C$19.25 to C$20.00 in a research report on Friday, August 1st. BMO Capital Markets boosted their price objective on Killam Apartment REIT from C$19.50 to C$20.00 in a report on Monday, May 12th. Finally, TD Securities lifted their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of C$21.64.

Killam Apartment REIT Price Performance

The stock has a market capitalization of C$2.19 billion, a price-to-earnings ratio of 3.88 and a beta of 1.06. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10. The company has a fifty day simple moving average of C$18.52 and a two-hundred day simple moving average of C$17.92.

Killam Apartment REIT Announces Dividend

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