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

Key Points

• Killam Apartment REIT shares fell below their 50-day moving average of C$18.32, reaching C$16.96 before closing at C$17.01 on elevated volume of 840,378 shares.
• Analysts remain bullish: seven firms rate the REIT a Buy, with an average price target of C$20.44. Raymond James, Scotia, and TD recently raised their targets to C$21.25, C$20.25, and C$22.00, respectively.
• The company reported quarterly EPS of C$0.53 on revenue of C$99.16 million and recently paid a monthly dividend of C$0.06 per share, representing a stated 4.2% yield.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$18.32 and traded as low as C$16.96. Killam Apartment REIT shares last traded at C$17.01, with a volume of 840,378 shares.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KMP.UN. Raymond James Financial increased their price target on Killam Apartment REIT from C$21.00 to C$21.25 and gave the company an "outperform" rating in a research report on Friday, August 7th. Scotia upped their target price on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock a "sector outperform" rating in a research note on Friday, August 7th. Finally, TD 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 report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of C$20.44.

Killam Apartment REIT Stock Performance

The stock has a market cap of C$2.04 billion, a PE ratio of 252.81 and a beta of 0.78. The stock has a fifty day moving average of C$18.32 and a 200-day moving average of C$17.80. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05.

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

Killam Apartment REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 4.2%. Killam Apartment REIT's payout ratio is currently 1,070.11%.

Killam Apartment REIT Company Profile

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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