Killam Apartment REIT (TSE:KMP.UN) Sets New 52-Week Low After Analyst Downgrade

Shares of Killam Apartment REIT (TSE:KMP.UN) hit a new 52-week low on Monday after Raymond James lowered their price target on the stock from C$23.50 to C$22.25. The company traded as low as C$16.59 and last traded at C$16.61, with a volume of 44837 shares. The stock had previously closed at C$16.79.

A number of other research analysts have also recently weighed in on KMP.UN. National Bankshares boosted their target price on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research note on Wednesday, October 9th. Royal Bank of Canada decreased their target price on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Killam Apartment REIT presently has an average rating of “Moderate Buy” and a consensus target price of C$22.38.

Killam Apartment REIT Stock Down 0.4 %

The company has a fifty day moving average of C$17.76 and a two-hundred day moving average of C$18.76. The company has a market cap of C$1.99 billion, a PE ratio of 6.43 and a beta of 1.10. The company has a debt-to-equity ratio of 82.05, a quick ratio of 0.03 and a current ratio of 0.10.

Killam Apartment REIT Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were issued a $0.0583 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, October 31st. Killam Apartment REIT’s dividend payout ratio is 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.