Killam Apartment REIT (TSE:KMP.UN) Shares Down 2.2% - Time to Sell?

Key Points

• Killam Apartment REIT shares dropped 2.2% to C$18.32, with a trading volume of 330,753 shares, indicating slight interest but a downturn from the previous close of C$18.73.
• BMO Capital Markets recently increased their price target for the stock from C$19.50 to C$20.00, suggesting a potential for recovery in stock value.
• The company announced a monthly dividend of $0.06, resulting in an annual yield of 3.9%, with the next payout scheduled for August 15th.

Shares of Killam Apartment REIT (TSE:KMP.UN - Get Free Report) dropped 2.2% on Thursday . The stock traded as low as C$18.29 and last traded at C$18.32. Approximately 330,753 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 326,891 shares. The stock had previously closed at C$18.73.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KMP.UN shares. Canaccord Genuity Group downgraded Killam Apartment REIT from a "buy" rating to a "hold" rating and increased their target price for the company from C$19.25 to C$20.00 in a research note on Friday. BMO Capital Markets increased their target price on Killam Apartment REIT from C$19.50 to C$20.00 in a research note on Monday, May 12th.

Killam Apartment REIT Stock Down 0.8%

The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The stock has a market capitalization of C$2.16 billion, a P/E ratio of 6.99 and a beta of 1.10. The firm has a 50-day simple moving average of C$19.25 and a 200 day simple moving average of C$17.74.

Killam Apartment REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, July 31st. Killam Apartment REIT's dividend payout ratio (DPR) is presently 26.92%.

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.