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

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

KMP.UN has been the topic of a number of other reports. Royal Bank of Canada dropped their price objective on shares of Killam Apartment REIT from C$24.50 to C$23.50 in a research report on Friday, November 8th. National Bankshares upped their price target on shares of Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Killam Apartment REIT currently has an average rating of “Moderate Buy” and an average price target of C$22.38.

Killam Apartment REIT Trading Down 0.5 %

The company has a market cap of C$1.99 billion, a price-to-earnings ratio of 6.42 and a beta of 1.10. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The business has a 50 day simple moving average of C$17.80 and a 200 day simple moving average of C$18.77.

Killam Apartment REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were given a $0.0583 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.19%. Killam Apartment REIT’s 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.