Killam Apartment REIT (TSE:KMP.UN) Shares Pass Above 50 Day Moving Average – Here’s Why

Killam Apartment REIT (TSE:KMP.UN)’s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$17.10 and traded as high as C$17.13. Killam Apartment REIT shares last traded at C$17.12, with a volume of 461,748 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KMP.UN. Royal Bank Of Canada lowered their target price on Killam Apartment REIT from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Raymond James Financial decreased their price target on shares of Killam Apartment REIT from C$20.25 to C$20.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. TD Securities lowered their price objective on shares of Killam Apartment REIT from C$21.00 to C$20.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Canaccord Genuity Group dropped their price objective on shares of Killam Apartment REIT from C$20.00 to C$19.00 in a research note on Thursday, November 6th. Finally, BMO Capital Markets decreased their target price on shares of Killam Apartment REIT from C$20.00 to C$19.50 in a research report on Wednesday, November 12th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$20.00.

Killam Apartment REIT Stock Performance

The company has a 50-day moving average of C$17.10 and a 200-day moving average of C$17.30. The company has a market cap of C$2.09 billion, a PE ratio of 70.70 and a beta of 0.75. 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 released its quarterly earnings results on Friday, February 13th. The company reported C($1.17) EPS for the quarter. Killam Apartment REIT had a net margin of 86.91% and a return on equity of 12.07%. The company had revenue of C$96.26 million during the quarter. As a group, analysts anticipate that Killam Apartment REIT will post 1.2904074 earnings per share for the current year.

Killam Apartment REIT Company Profile

Killam Apartment Real Estate Investment Trust is an open-ended mutual fund trust. The company specializes in the acquisition, management, and development of multi-residential apartment buildings and manufactured home communities (MHC). It has three main operating segments, Apartment segment, MHC segment, and Commercial segments. Apartment segment acquires, operates, manages and develops multi-family residential properties across Canada. MHC segment acquires and operates MHC communities in Ontario and Eastern Canada, and Commercial segment includes more than seven commercial properties.