Killam Apartment REIT (TSE:KMP.UN) Trading Down 1% – Here’s What Happened

Killam Apartment REIT (TSE:KMP.UN)’s stock price dropped 1% during trading on Friday . The stock traded as low as C$17.55 and last traded at C$17.57. Approximately 241,197 shares changed hands during trading, a decline of 6% from the average daily volume of 255,898 shares. The stock had previously closed at C$17.74.

Analyst Upgrades and Downgrades

KMP.UN has been the subject of several analyst reports. Royal Bank of Canada cut their price target on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a report on Friday, November 8th. TD Securities lifted their price objective on Killam Apartment REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. National Bankshares boosted their target price on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Finally, Raymond James raised Killam Apartment REIT from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from C$22.50 to C$24.00 in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$22.50.

Killam Apartment REIT Price Performance

The stock has a market capitalization of C$2.09 billion, a P/E ratio of 6.76 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. The firm has a 50-day moving average price of C$18.84 and a 200 day moving average price of C$18.78.

Killam Apartment REIT Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were given a dividend of $0.0583 per share. This represents a $0.70 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Thursday, October 31st. Killam Apartment REIT’s payout ratio is currently 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.