Killam Apartment REIT (TSE:KMP.UN) Trading Down 1% – Should You Sell?

Killam Apartment REIT (TSE:KMP.UN) shares dropped 1% on Friday . The stock traded as low as C$17.55 and last traded at C$17.57. Approximately 241,197 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 255,898 shares. The stock had previously closed at C$17.74.

Analyst Ratings Changes

Several research analysts have issued reports on the company. TD Securities increased their price target on Killam Apartment REIT from C$22.00 to C$23.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. National Bankshares increased their target price on Killam Apartment REIT from C$22.75 to C$24.00 in a report on Wednesday, October 9th. Royal Bank of Canada decreased 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. Finally, Raymond James raised shares of Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from C$22.50 to C$24.00 in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Killam Apartment REIT presently has an average rating of “Moderate Buy” and an average target price of C$22.50.

Killam Apartment REIT Stock Performance

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 company’s 50 day moving average price is C$18.84 and its 200-day moving average price is C$18.78. The company has a market cap of C$2.09 billion, a PE ratio of 6.76 and a beta of 1.10.

Killam Apartment REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were issued a dividend of $0.0583 per share. This represents a $0.70 annualized dividend and a yield of 3.98%. The ex-dividend date was Thursday, October 31st. Killam Apartment REIT’s dividend payout ratio (DPR) is presently 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.