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

Shares of Killam Apartment REIT (TSE:KMP.UN) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$16.73 and traded as high as C$17.98. Killam Apartment REIT shares last traded at C$17.94, with a volume of 354,547 shares trading hands.

Analyst Ratings Changes

Several analysts have weighed in on the company. National Bank Financial boosted their price objective on 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 boosted their target price 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. Royal Bank Of Canada boosted their target price on Killam Apartment REIT from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. TD Securities reduced their target price on Killam Apartment REIT from C$21.00 to C$20.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Finally, Raymond James Financial boosted their target price on Killam Apartment REIT from C$20.00 to C$20.25 and gave the company 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 assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$20.23.

Killam Apartment REIT Stock Down 0.2%

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 stock has a market capitalization of C$2.19 billion, a PE ratio of -91.86 and a beta of 0.60. The company has a 50 day moving average price of C$16.73 and a 200-day moving average price of C$16.86.

Killam Apartment REIT (TSE:KMP.UN) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.41 earnings per share for the quarter. The company had revenue of C$96.68 million for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%. As a group, analysts forecast that Killam Apartment REIT will post 1.2904074 earnings per share for the current fiscal year.

Killam Apartment REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be paid a $0.06 dividend. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, May 29th. Killam Apartment REIT’s dividend payout ratio is presently -368.68%.

About Killam Apartment REIT

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.