Killam Apartment REIT (TSE:KMP.UN) Trading Down 0.1% - Here's Why

Key Points

• Killam Apartment REIT's shares decreased by 0.1%, trading at C$17.60 after reaching a low of C$17.55, with a trading volume down 43% from its average.
• Analyst ratings for Killam Apartment REIT show a mix, with Canaccord Genuity downgrading it to a "hold," while TD Securities raised its target price and maintains a "buy" rating, resulting in an average target of C$21.25.
• The company announced a monthly dividend of $0.06 to be paid on November 17th, representing a 4.1% yield.

Shares of Killam Apartment REIT (TSE:KMP.UN - Get Free Report) fell 0.1% on Tuesday . The company traded as low as C$17.55 and last traded at C$17.60. 179,478 shares changed hands during trading, a decline of 43% from the average session volume of 317,031 shares. The stock had previously closed at C$17.61.

Analyst Ratings Changes

KMP.UN has been the topic of several research reports. Canaccord Genuity Group downgraded Killam Apartment REIT from a "buy" rating to a "hold" rating and upped their price objective for the stock from C$19.25 to C$20.00 in a report on Friday, August 1st. Scotiabank decreased their price objective on 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. Finally, 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 note on Friday, August 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$21.25.

Killam Apartment REIT Stock Down 0.1%

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 cap of C$2.13 billion, a price-to-earnings ratio of 3.77 and a beta of 0.91. The firm's fifty day moving average price is C$17.84 and its two-hundred day moving average price is C$18.17.

Killam Apartment REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 17th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a yield of 4.1%. Killam Apartment REIT's dividend payout ratio (DPR) is 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.

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