Killam Apartment REIT (TSE:KMP.UN) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Killam Apartment REIT (TSE:KMP.UN) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$16.62 and traded as low as C$16.61. Killam Apartment REIT shares last traded at C$16.62, with a volume of 264,385 shares.

Wall Street Analysts Forecast Growth

Separately, Raymond James decreased their price objective on shares of Killam Apartment REIT from C$22.25 to C$21.50 in a research report on Friday, February 14th.

Killam Apartment REIT Price 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 firm has a market capitalization of C$1.99 billion, a price-to-earnings ratio of 6.44 and a beta of 1.10. The business’s fifty day simple moving average is C$16.61 and its 200 day simple moving average is C$18.25.

Killam Apartment REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Friday, February 28th. Killam Apartment REIT’s payout ratio is 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.