Killam Apartment REIT (TSE:KMP.UN) Stock Price Crosses Below 50 Day Moving Average – Should You Sell?

Killam Apartment REIT (TSE:KMP.UN) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$17.60 and traded as low as C$16.76. Killam Apartment REIT shares last traded at C$16.89, with a volume of 102,826 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KMP.UN shares. Raymond James decreased their price target on Killam Apartment REIT from C$23.50 to C$22.25 in a research note on Monday, January 13th. Royal Bank of Canada reduced their price target on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th. Finally, National Bankshares raised their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$22.38.

Killam Apartment REIT Price Performance

The firm has a 50 day moving average price of C$17.57 and a 200 day moving average price of C$18.74. The stock has a market capitalization of C$1.98 billion, a PE ratio of 6.38 and a beta of 1.10. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be given a $0.06 dividend. This is a positive change from Killam Apartment REIT’s previous monthly dividend of $0.06. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, January 31st. Killam Apartment REIT’s dividend payout ratio is presently 26.92%.

Killam Apartment REIT Company Profile

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating, managing and developing a $2.8 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, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.