Killam Apartment REIT (TSE:KMP.UN) Stock Price Down 1% – Time to Sell?

Killam Apartment REIT (TSE:KMP.UN)’s stock price was down 1% during trading on Friday . The company traded as low as C$17.55 and last traded at C$17.57. Approximately 241,197 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 255,898 shares. The stock had previously closed at C$17.74.

Analysts Set New Price Targets

KMP.UN has been the topic of several recent analyst reports. National Bankshares increased their price target on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. TD Securities lifted their price target on shares of Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. 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 report on Friday, November 8th. Finally, Raymond James raised Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from C$22.50 to C$24.00 in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$22.50.

Killam Apartment REIT Stock Down 1.0 %

The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The firm’s 50-day moving average price is C$18.90 and its 200 day moving average price is C$18.77. The firm has a market capitalization of C$2.09 billion, a price-to-earnings ratio of 6.76 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a $0.0583 dividend. This represents a $0.70 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend was Thursday, October 31st. Killam Apartment REIT’s payout ratio is 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.