Killam Apartment REIT (TSE:KMP.UN) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Killam Apartment REIT (TSE:KMP.UN)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$20.09 and traded as high as C$20.53. Killam Apartment REIT shares last traded at C$20.32, with a volume of 303,383 shares.

Analysts Set New Price Targets

Several research analysts recently issued reports on KMP.UN shares. TD Securities lifted their target price on Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Raymond James upgraded shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from C$22.50 to C$24.00 in a research note on Friday, September 6th. Ventum Financial raised their price target on shares of Killam Apartment REIT from C$22.50 to C$23.00 in a research report on Friday, August 9th. National Bankshares boosted their price target on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Finally, Royal Bank of Canada increased their price objective on shares of Killam Apartment REIT from C$22.00 to C$23.00 in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$22.45.

Killam Apartment REIT Stock Performance

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 company has a 50 day simple moving average of C$20.09 and a 200-day simple moving average of C$18.45. The stock has a market capitalization of C$2.42 billion, a P/E ratio of 7.82 and a beta of 1.10.

Killam Apartment REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be paid a $0.0583 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Thursday, October 31st. 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.