Killam Apartment REIT (TSE:KMP.UN) Shares Pass Below Fifty Day Moving Average - Should You Sell?

Key Points

• Killam Apartment REIT shares fell below their 50-day moving average, trading as low as C$18.48 versus the average of C$18.73. The stock last traded at C$18.49.
• Analysts remain broadly positive: seven analysts rate the shares a Buy, with a consensus target price of C$20.44—above the recent trading level.
• The REIT reported quarterly revenue of C$99.16 million and earnings of C$0.53 per share, while maintaining a monthly dividend of C$0.06 per share, representing an annualized yield of about 3.9%.

Shares of Killam Apartment REIT (TSE:KMP.UN - Get Free Report) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$18.73 and traded as low as C$18.48. Killam Apartment REIT shares last traded at C$18.49, with a volume of 223,326 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on KMP.UN shares. Raymond James Financial upped their price objective on 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. Royal Bank Of Canada raised their target price on Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. National Bank Financial lifted their target price on Killam Apartment REIT from C$19.75 to C$20.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Scotia upped their price target on Killam Apartment REIT from C$20.00 to C$20.25 and gave the company a "sector outperform" rating in a research note 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 stock a "buy" rating in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$20.44.

Killam Apartment REIT Price Performance

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 stock has a market cap of C$2.22 billion, a PE ratio of 274.82 and a beta of 0.79. The stock's 50-day moving average is C$18.73 and its two-hundred day moving average is C$17.75.

Killam Apartment REIT (TSE:KMP.UN - Get Free Report) last posted its 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. On average, equities analysts predict that Killam Apartment REIT will post 1.2904074 earnings per share for the current year.

Killam Apartment REIT Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 3.9%. Killam Apartment REIT's dividend payout ratio is 1,070.15%.

About Killam Apartment REIT

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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