Killam Apartment REIT (TSE:KMP.UN) Shares Cross Below 50-Day Moving Average - Time to Sell?

Key Points

• Killam Apartment REIT shares fell below their 50-day moving average, trading as low as C$17.12 and last changing hands at C$17.19, compared with a 50-day average of C$18.52.
• Despite the technical weakness, analysts remain positive: seven analysts rate the stock a Buy, with an average price target of C$20.44. Raymond James, Scotia, and TD recently raised their targets to between C$20.25 and C$22.00.
• The REIT reported quarterly revenue of C$99.16 million and earnings of C$0.53 per share, while declaring a monthly C$0.06 dividend yielding approximately 4.2%.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$18.52 and traded as low as C$17.12. Killam Apartment REIT shares last traded at C$17.19, with a volume of 269,374 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Raymond James Financial lifted their price objective on shares of Killam Apartment REIT from C$21.00 to C$21.25 and gave the company an "outperform" rating in a 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 report on Friday, August 7th. Finally, TD increased their price target on 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of C$20.44.

Killam Apartment REIT Stock Down 1.0%

The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05. The firm's fifty day simple moving average is C$18.52 and its 200 day simple moving average is C$17.79. The company has a market cap of C$2.06 billion, a price-to-earnings ratio of 255.49 and a beta of 0.78.

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

Killam Apartment REIT Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were issued a $0.06 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, July 31st. Killam Apartment REIT's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.