Killam Apartment REIT (TSE:KMP.UN) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Killam Apartment REIT (TSE:KMP.UN) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$18.64 and traded as high as C$18.92. Killam Apartment REIT shares last traded at C$18.81, with a volume of 172,537 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on KMP.UN shares. TD lifted their price objective on shares of Killam Apartment REIT from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, May 8th. National Bank Financial raised their price target on shares of 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 lifted their price target on Killam Apartment REIT from C$19.50 to C$20.00 and gave the company a “sector outperform” rating in a research note on Friday, May 8th. Raymond James Financial boosted their price objective on Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada increased their price objective 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. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Killam Apartment REIT presently has an average rating of “Moderate Buy” and a consensus price target of C$20.23.

Killam Apartment REIT Stock Performance

The company’s 50 day moving average price is C$18.68 and its 200-day moving average price is C$17.61. The stock has a market cap of C$2.29 billion, a P/E ratio of -96.17 and a beta of 0.79. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10.

Killam Apartment REIT (TSE:KMP.UN) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.41 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 business had revenue of C$96.68 million for the quarter. Equities analysts forecast that Killam Apartment REIT will post 1.2904074 EPS for the current fiscal year.

Killam Apartment REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 3.8%. Killam Apartment REIT’s dividend payout ratio is currently -368.68%.

Killam Apartment REIT Company Profile

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.