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

Killam Apartment REIT (TSE:KMP.UN)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty 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 traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on KMP.UN shares. Royal Bank of Canada cut their target price on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th. Raymond James reduced their price target on shares of Killam Apartment REIT from C$22.25 to C$21.50 in a research report on Friday, February 14th.

Killam Apartment REIT Price Performance

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 company has a market capitalization of C$2.01 billion, a price-to-earnings ratio of 6.50 and a beta of 1.10. The company has a 50 day moving average price of C$16.68 and a 200 day moving average price of C$18.36.

Killam Apartment REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Friday, February 28th. Killam Apartment REIT’s dividend 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.