Killam Apartment REIT (TSE:KMP.UN) Stock Crosses Above 50 Day Moving Average – What’s Next?

Killam Apartment REIT (TSE:KMP.UN) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$16.68 and traded as high as C$16.97. Killam Apartment REIT shares last traded at C$16.89, with a volume of 311,134 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KMP.UN. Raymond James lowered their price target on Killam Apartment REIT from C$22.25 to C$21.50 in a report on Friday, February 14th. Royal Bank of Canada cut 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.

Killam Apartment REIT Stock 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 50-day moving average of C$16.68 and a 200-day moving average of C$18.36. The firm has a market cap of C$2.01 billion, a price-to-earnings ratio of 6.50 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be given a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Friday, February 28th. Killam Apartment REIT’s dividend payout ratio (DPR) is currently 26.92%.

About Killam Apartment REIT

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.