Killam Apartment REIT (TSE:KMP.UN) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of Killam Apartment REIT (TSE:KMP.UN) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$18.63 and traded as low as C$16.50. Killam Apartment REIT shares last traded at C$16.55, with a volume of 299,108 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank of Canada dropped 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. Raymond James dropped their price target on shares of Killam Apartment REIT from C$23.50 to C$22.25 in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$22.58.

Killam Apartment REIT Stock Down 0.6 %

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 firm has a market capitalization of C$1.97 billion, a PE ratio of 6.37 and a beta of 1.10. The company’s 50 day simple moving average is C$17.07 and its 200-day simple moving average is C$18.63.

Killam Apartment REIT Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be paid a $0.06 dividend. The ex-dividend date is Friday, January 31st. This is a boost from Killam Apartment REIT’s previous monthly dividend of $0.06. This represents a $0.72 annualized dividend and a yield of 4.35%. Killam Apartment REIT’s dividend payout ratio is currently 26.92%.

Killam Apartment REIT Company Profile

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.