Killam Apartment REIT (TSE:KMP.UN) Shares Break Above 200 Day Moving Average – What’s Next?

Killam Apartment REIT (TSE:KMP.UN)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$17.64 and traded as high as C$17.74. Killam Apartment REIT shares last traded at C$17.66, with a volume of 251,792 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KMP.UN. Raymond James Financial upped their price target on shares of Killam Apartment REIT from C$21.00 to C$21.25 and gave the company an “outperform” rating in a research note on Friday, August 7th. Scotia lifted their target price on Killam Apartment REIT from C$20.00 to C$20.25 and gave the company a “sector outperform” rating in a report on Friday, August 7th. Finally, TD increased their price target on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$20.62.

Killam Apartment REIT Stock Performance

The stock has a market cap of C$2.12 billion, a PE ratio of 262.32 and a beta of 0.66. The company has a fifty day moving average price of C$17.39 and a 200 day moving average price of C$17.64. The company has a quick ratio of 0.03, a current ratio of 0.10 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT (TSE:KMP.UN) last issued its earnings results on Wednesday, November 4th. The company reported C$0.44 earnings per share for the quarter. The company had revenue of C$100.83 million during the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%. Analysts expect that Killam Apartment REIT will post 1.29 earnings per share for the current year.

Killam Apartment REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, October 30th. Killam Apartment REIT’s dividend payout ratio is 1,070.11%.

Killam Apartment REIT Company Profile

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.