Killam Apartment REIT (TSE:KMP.UN) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Killam Apartment REIT (TSE:KMP.UN)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$18.71 and traded as high as C$18.87. Killam Apartment REIT shares last traded at C$18.69, with a volume of 590,197 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KMP.UN shares. Raymond James Financial increased their price objective on shares of Killam Apartment REIT from C$20.00 to C$20.25 and gave the stock an “outperform” rating in a report on Friday, May 8th. Royal Bank Of Canada boosted their target price on shares of Killam Apartment REIT from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Scotia upped their target price on shares of Killam Apartment REIT from C$19.50 to C$20.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 8th. National Bank Financial raised their price target on shares of Killam Apartment REIT from C$19.75 to C$20.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, TD lifted their price target on Killam Apartment REIT from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$20.23.

Killam Apartment REIT Stock Up 0.8%

The company has a market cap of C$2.28 billion, a price-to-earnings ratio of -95.70 and a beta of 0.79. The stock has a 50-day simple moving average of C$18.71 and a 200-day simple moving average of C$17.64. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 82.05.

Killam Apartment REIT (TSE:KMP.UN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$0.53 EPS for the quarter. Killam Apartment REIT had a return on equity of 12.07% and a net margin of 86.91%.The company had revenue of C$99.16 million for the quarter. As a group, analysts predict that Killam Apartment REIT will post 1.2904074 EPS for the current year.

Killam Apartment REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, July 31st. Killam Apartment REIT’s dividend payout ratio is currently -368.68%.

About Killam Apartment REIT

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.